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Telegram terminated the TON project in 2019 due to SEC legal challenges, leading to the establishment of the TON Foundation in Switzerland in 2023 as an independent nonprofit to continue the blockchain’s development

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The foundation emerged in Switzerland in 2023 after an attempt by Telegram to raise billions of dollars for a crypto project ran afoul of US regulators, resulting in a 2020 settlement with the Securities and Exchange Commission.
As TON is an open-source project, with its entire code published on GitHub, Telegram’s TON exit marked a new era in the TON development, with independent developers and communities starting to build their own networks based on TON. One such project was the TON Foundation, which was officially established in Switzerland in 2023 as a nonprofit organization funded entirely by community contributions.

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Overview of Telegram and TON history

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