TON Ecosystem Update – April 2025: New CEO, $500M Bond Fund, and 10K Wallets a Day

The TON ecosystem roared into Q2 2025 with major developments on all fronts—leadership changes, U.S. expansion, new financial products, and rapid ecosystem growth. At the heart of the action: a new CEO, a $500 million bond fund, and 10,000+ new non-custodial wallets created daily.

Here’s everything you need to know.

April Highlights at a Glance

• Max Crown appointed as CEO of the TON Foundation, bringing operational expertise from MoonPay.

• Ethena’s $6B+ USDe stablecoin is coming to TON, offering Telegram’s 1B+ users new ways to save and earn in USD.

• TON and Libre launch a $500M Telegram Bond Fund, marking the largest real-world asset (RWA) tokenization in crypto to date.

• TON Space gears up for U.S. launch in Q2, as Apple opens the door to external payments, including crypto.

• Ecosystem remains vibrant with 170K–190K daily active wallets and over 10K new wallets onboarded daily.

New Leadership, U.S. Push, and a Fresh Chapter for TON

The TON Foundation welcomed Max Crown—former CFO and COO at MoonPay—as its new CEO. His arrival signals TON’s ambition to scale globally and align more closely with regulatory frameworks.

April also marked a major integration win: Ethena’s synthetic USD (USDe), with over $6B in total value locked, is coming to TON. This will enable seamless savings and earnings for Telegram’s massive user base.

Adding to the momentum, TON and Libre announced the $500M Telegram Bond Fund, the crypto industry’s largest real-world asset (RWA) tokenization initiative to date.

Meanwhile, TON Space—Telegram’s self-custodial wallet—is preparing to enter the U.S. market in Q2, bolstered by Apple’s greenlight on external crypto payments and MoonPay’s rollout of Toncoin purchases for American users.

Replay the full TON Day livestream online.

TON Day Returns to Hong Kong at Web3 Fest

TON Day made a strong return to Hong Kong’s Web3 Fest, spotlighting Asia’s growing TON developer and user community. Key highlights included:

• Showcases from teams like Televerse, RedotPay, Baza, and others.

• New partnership with Chinese gaming giant KingNet (100M+ users).

• TON’s first large-scale game dev meetup in Asia, attracting studios—many active in the WeChat ecosystem—now exploring builds on TON and Telegram.

Infrastructure and Developer Momentum

TON’s infrastructure saw major upgrades in April:

• Toncoin Bridge retired after facilitating over 100M $TON in cross-chain transfers. Users now rely on native tokens (USDT, jettons, and soon USDe and tgBTC) plus LayerZero and Axelar integrations.

• Broxus launched TON Factory to accelerate TVM scalability.

• Tonkeeper added on-chain 2FA and support for USDT-TRC20 transfers through its new feature, Tonkeeper Battery.

• A $20K smart contract challenge for Tact attracted 1,393 developers and over 59,000 submissions, helping grow the Tact VS Code extension’s adoption.

TON DeFi: Deepening Liquidity and Ecosystem Interconnectivity

DeFi innovation continued to thrive:

• STON.fi launched Omniston, optimizing liquidity aggregation across TON.

• TONCO maintained top APY status, delivering 20%+ yields via its concentrated liquidity design.

• Cross-ecosystem partnerships flourished:
• 
  
• Factorial x Storm

• FIVA x EVAA

• EVAA x Tonstakers

Telegram-native trading bots stole the spotlight:

• Blum now drives 25% of all TON on-chain activity, generating $10M+ in weekly volume.

• Vietnam’s Aliniex mini app processed $2.4M in payments volume.

• MoonPay began supporting Toncoin purchases for U.S. users.

TON x Telegram: NFTs, Games, SocialFi, and Stickers

TON and Telegram integration continued to deepen:

• Usernames and anonymous numbers hit 100M TON in trading volume.

• NFT marketplace Tonnel reached 10.1M TON in total volume.

• Doodles’ NFT Sticker packs sold out in under 15 minutes.

Other key developments:

• Memes Lab became the first TON project featured on Kaito, the Sequoia- and Dragonfly-backed Web3 info platform.

• SCOR, with licensing deals from MLS and NHL, hit 200K monthly active users from just two mini games.

• Storm Trade launched Upscale, an AI-powered prop trading bot built natively on TON.

Final Thoughts: The Line Between Web2 and Web3 Keeps Blurring

April 2025 was a defining month for TON. With momentum across DeFi, RWAs, payments, NFTs, and Telegram-native apps, the ecosystem is rapidly maturing into a multi-faceted, user-first platform—directly integrated into one of the world’s largest messaging apps.

TON is now focused on scalable global growth, deeper utility, and onboarding the next wave of users—right inside Telegram.