Max Crown Appointed President and CEO of TON Foundation as Manuel Stotz Shifts Focus to TON Strategy Co

ZUG, Switzerland — August 20, 2025 — The Open Network Foundation (TON Foundation), the non-profit organization supporting the growth of TON Blockchain, today announced the appointment of Maximilian Crown as President and Chief Executive Officer.

This leadership update follows Manuel Stotz’s decision to step down as President of the Board to focus on his new role as Executive Chairman of Verb Technology Company, which will soon rebrand as TON Strategy Co.

Crown Expands Leadership Role

Crown, a co-founder of MoonPay, was appointed TON Foundation’s CEO earlier this year as part of a strategic leadership restructuring. His expanded role as both President and CEO represents a natural evolution in the Foundation’s governance model and underscores the board’s confidence in his vision.

"It’s an honor to take on this expanded role and continue building on the incredible foundation Manny helped establish," said Crown. "This reflects the Foundation’s full confidence in our shared vision: to place TON at the heart of a decentralized future spanning finance, gaming, digital ownership, and more. I’m excited to lead this next chapter alongside our community and partners."

Since stepping in as CEO, Crown has quickly earned recognition for his ability to scale technology platforms and for bringing focus and momentum to TON’s global expansion.

Stotz’s Ongoing Role in TON Ecosystem

Stotz’s transition comes on the heels of Verb Technology Company’s $558 million PIPE transaction, which he led successfully. As Executive Chairman of the soon-to-be TON Strategy Co., he will continue playing a strategic role in Toncoin’s ($TON) integration into the global financial system.

During his leadership at TON Foundation, Stotz spearheaded major milestones, including:

• Securing $400 million in institutional backing from leading U.S. venture firms holding Toncoin

• Guiding TON Wallet’s U.S. launch through The Open Platform

• Overseeing the CEO transition to Crown earlier this year

Path Ahead for TON Foundation

Under Crown’s leadership, TON Foundation will continue to:

• Support developers, creators, and enterprises building on TON Blockchain

• Expand into decentralized finance, gaming, and digital ownership

• Provide strategic grants and technical resources to the TON ecosystem

Through its exclusive partnership with Telegram, TON is uniquely positioned to bring blockchain benefits to Telegram’s 1 billion+ global users, accelerating adoption at scale.

About TON Foundation

The Open Network Foundation (TON Foundation) is a Swiss non-profit organization established in 2023 to support the development and growth of TON Blockchain. Supported by community contributors, the Foundation provides resources, partnerships, and advocacy to help shape TON’s open-source platform and ecosystem. While aligned with TON’s mission, the Foundation does not exercise centralized control; TON remains an open, decentralized network welcoming global

participation.

Learn more: ton.foundation