Latest news with #MaximilianCrown
Arabian Post
03-07-2025
- Business
- Arabian Post
TOP Wallet's $28.5 Million Boost Sets Sights on U.S. and European Launch
The Open Platform, the team behind the Telegram Wallet on TON, has secured $28.5 million in a Series A round led by Ribbit Capital, propelling the company to a $1 billion valuation. The fundraising, achieved through the sale of 5% equity in traditional currency terms, positions TOP to expand its operations into the U. S. and European markets and to roll out blockchain-based games and AI-driven applications. TOP serves as the core developer for Telegram's official blockchain, The Open Network, and is responsible for creating and maintaining the Telegram Wallet, which facilitates peer-to-peer transfers within chats. The company will channel its new funds into market expansion and product development, aligning with its long-held strategy of leveraging Telegram's user base—now over a billion monthly active users—to advance the blockchain ecosystem. Ribbit Capital led the round, acquiring approximately 4–5% of TOP's equity. Other notable participants included Pantera Capital, reinforcing investor confidence in TON's growth potential. The funding arrived without any sale of cryptocurrency tokens, emphasising that the stake was purely equity-based. ADVERTISEMENT Since Telegram integrated TON in 2022, the ecosystem has witnessed rapid uptake. Metrics show active TON accounts rising from roughly 4 million to over 41 million, with more than 121 million unique Toncoin holders. Daily on-chain transactions surged from approximately 100,000 to 1.2 million, while total value locked has exceeded US $350 million. These figures underscore user engagement and the ecosystem's expanding financial activity. TOP's forthcoming initiatives include incubating blockchain-native games—both multiplayer and mini-app formats—that operate entirely on the TON chain. They will use Telegram's Mini‑App infrastructure, which is already adopted by over half a billion users. One such example is the viral 'Hamster Kombat' game, which has drawn over 300 million players and helped introduce mainstream audiences to blockchain functionality. AI-driven applications are another priority. TOP is developing tools and platforms that integrate machine learning models directly into TON-based environments, enabling chat-integrated utilities—such as fraud detection, financial analytics, and smart assistants—without departing the Telegram interface. Regulatory headwinds in the U. S. and Europe will present challenges. The SEC previously halted Telegram's launch of its native token, Gram, in 2020, leading to a refund and legal settlement. Now guided by Maximilian Crown—TON Foundation's newly appointed CEO with regulatory and compliance experience—TOP aims to navigate these complex legal environments. Crown's background at MoonPay, where he oversaw U. S. and European licensing, equips the project with added expertise as it seeks entry into compliant markets. Support from both traditional and crypto-focused investors reflects strong market confidence. Alongside Ribbit and Pantera, unicorn‐backed VCs such as Sequoia, Benchmark, and Kingsway have previously invested over $400 million in Toncoin, affirming institutional belief in TON's role as Telegram's blockchain layer. TOP's strategy reflects a broader shift within Web3—pursuing real-world use cases embedded into existing digital platforms. Using Telegram's 1 billion+ user base, BOTs, wallets, mini-apps, and secure messaging infrastructure, TOP aims to drive mass crypto adoption while sidestepping consumer-level friction. Analysts note that TOP's equity‑only raise is distinctive; contrast it with token sales that often involve community risk. By focusing on equity, TOP offers investors upside across its product stack—including wallets, DeFi tools, games, and AI utilities—without diluting with token allocation. Upcoming milestones include launching its U. S. and European operations before year‑end, unveiling its first wave of blockchain‑native games, and beta‑testing AI‑enhanced wallets and utility apps. With a valuation of $1 billion and deepening partnerships, TOP is well positioned to define Telegram's blockchain strategy beyond financial services into entertainment and artificial intelligence.
Arabian Post
25-04-2025
- Business
- Arabian Post
TON to Discontinue Toncoin Bridge to Ethereum and BNB Smart Chain on May 10
The Open Network has announced that its Toncoin Bridge, facilitating transfers between the TON blockchain and Ethereum and BNB Smart Chain , will be permanently shut down on May 10, 2025. Post this date, users will no longer be able to bridge Toncoin from TON to these networks. However, assets already bridged will remain claimable. Bridging into TON will still be available temporarily, with a separate end date to be announced. The Toncoin Bridge has been a pivotal component in TON's cross-chain interoperability, enabling users to transfer assets between the TON blockchain and Ethereum and BSC. Its discontinuation marks a significant shift in TON's approach to cross-chain interactions. In anticipation of the bridge's shutdown, TON has been promoting alternative bridging solutions. These include platforms like Symbiosis, Layerswap, Rubic, and Retro Bridge, which offer support for a wide range of networks beyond Ethereum and BSC. These alternatives aim to provide users with continued access to cross-chain functionalities, albeit through different channels. The decision to discontinue the Toncoin Bridge comes amid broader strategic changes within the TON ecosystem. The TON Foundation recently appointed Maximilian Crown, co-founder of MoonPay, as its new CEO. This leadership change follows a $400 million investment from global venture capital firms, signaling a renewed focus on scaling blockchain adoption and integrating with Telegram's extensive user base. Market reactions to these developments have been measured. As of April 25, 2025, Toncoin is trading at approximately $3.25, with a market capitalization of around $8.15 billion. While this reflects a decline from its all-time high of $8.27 in 2024, the cryptocurrency has shown resilience amid the evolving landscape. Price Prediction 2025 – 2030 – 99Bitcoins) Arabian Post – Crypto News Network
Yahoo
25-04-2025
- Business
- Yahoo
TON Foundation Appoints MoonPay Co-Founder as CEO After 46% Token Drop and 400 Million Investment Boost
The TON Foundation has appointed Maximilian Crown, co-founder of MoonPay, as its new CEO, following a period of slowed activity on its blockchain. Crown's appointment comes shortly after the foundation named Manuel Stotz as president of the board earlier this year. The foundation, which oversees the development of the Telegram-linked TON blockchain, has experienced a slowdown in daily fees and transaction volumes, despite a sharp increase in its user base. According to TonStat data, while the number of active users has surged from 4 million to 41 million over the past year, activity on the chain has not kept pace. Toncoin, the network's native token, has also dropped 46% in value during the same period. Crown, who will remain on MoonPay's board, previously served as CFO and COO of the crypto infrastructure provider. In those roles, he handled finance and operations while building links with banks, payment companies, and regulators. The TON Foundation credited him with helping scale MoonPay into one of the world's largest crypto payments platforms and establishing it as a trusted name in fintech. The TON ecosystem experienced a temporary boost in activity last year due to Telegram-based mini apps and games such as Notcoin and Hamster Kombat. However, that momentum has since slowed. The foundation, nonetheless, claims 121 million unique holders of Toncoin and maintains a long-term growth strategy that includes bringing 30% of Telegram's user base—estimated at over 1 billion people—onto the blockchain by 2028. Crown described TON's integration with Telegram as a strategic advantage. 'TON's speed, scalability, and exclusive integration with Telegram set it apart in the blockchain space. With access to over 1 billion Telegram users, TON has a unique opportunity to expand its ecosystem globally and redefine how blockchain technology is adopted at scale,' he said. In February, former TON president Steve Yun launched a $100 million fund called TVM Ventures, targeting startups within the TON ecosystem. Yun expressed confidence in TON's future role in the stablecoin sector, predicting it would capture a significant market share in the coming years. Meanwhile, investor interest in the project remains strong. Just last month, several major venture capital firms, including Sequoia Capital, Ribbit, Benchmark, and Kingsway, collectively invested more than $400 million into Toncoin through direct token purchases. The leadership changes and influx of capital signal a recalibration at the foundation as it seeks to reignite momentum and scale its blockchain infrastructure in partnership with Telegram's extensive user network.
Arabian Post
24-04-2025
- Business
- Arabian Post
Maximilian Crown Takes Helm at TON Foundation Amid Strategic Expansion
Maximilian Crown, co-founder of MoonPay, has been appointed as the new Chief Executive Officer of the TON Foundation, marking a significant leadership transition for the organisation. Crown, who previously served as Chief Financial Officer and Chief Operating Officer at MoonPay, will continue to hold a board position at the fintech firm while steering the TON Foundation's strategic direction. The TON Foundation, originally developed by Telegram and now operating independently, aims to advance the adoption of The Open Network blockchain. Crown's appointment is viewed as a strategic move to leverage his extensive experience in financial technology and regulatory compliance to bolster the foundation's growth and integration within the global financial ecosystem. Crown's tenure at MoonPay, a company he co-founded in 2019, has been marked by significant achievements, including expanding the platform's services to over 160 countries and facilitating the transfer of $2 billion in cryptocurrency. Under his leadership, MoonPay achieved a valuation of $3.4 billion and developed partnerships with major payment providers such as Mastercard, enhancing its capabilities in the NFT space through the launch of the HyperMint platform. The TON Foundation's decision to appoint Crown reflects its commitment to strengthening its position in the blockchain industry by integrating traditional financial systems with decentralized technologies. Crown's expertise in navigating complex regulatory landscapes and building robust financial infrastructures is expected to be instrumental in achieving the foundation's objectives. The Open Network, known for its scalability and efficiency, has been gaining traction as a viable blockchain solution for various applications, including decentralized finance and digital identity verification. Crown's leadership is anticipated to accelerate the development and adoption of TON-based solutions, fostering greater collaboration between the blockchain community and traditional financial institutions. Industry analysts suggest that Crown's dual role at MoonPay and the TON Foundation could facilitate synergies between the two entities, potentially leading to innovative payment solutions that bridge the gap between fiat and digital currencies. Such integration could enhance user accessibility and drive broader adoption of blockchain technologies in everyday financial transactions. Crown's appointment comes at a time when the blockchain industry is experiencing increased scrutiny from regulators worldwide. His proven track record in ensuring compliance and fostering transparent operations positions the TON Foundation to navigate these challenges effectively. Furthermore, his leadership is expected to instill confidence among stakeholders and attract strategic partnerships that align with the foundation's mission. Arabian Post – Crypto News Network
