Steve Yun: Driving Web3 Adoption Via Telegram

The president of the TON Foundation has millions tapping their phones to earn crypto.

Dec 10, 2024, 3:16 p.m. UTC

What do hamsters, crypto and Iran’s military have in common? At one point in the summer of 2024, the Telegram “mini-game” Hamster Kombat was so popular — reportedly attracting 300 million users — that Iran Rear Admiral Habibollah Sayyari accused the West of trying to disrupt elections by distracting Iranian voters with the game, as part of the “soft war” on Iran’s government.

Hamster Kombat, Catizen, Notcoin and other simple tap-tap-tap games are played on Telegram’s blockchain-powered TON, aka The Open Network. As the president of the TON Foundation, Steve Yun is responsible for overseeing overall TON adoption. He’s off to a strong start, as TON has exploded in growth and now has a market cap of over $17 billion (as of this writing), making it the 13th largest project in all of crypto.

Many Web3-enthusiasts in the U.S. haven’t fully engaged with TON, as the platform has withheld certain features such as a Telegram native crypto wallet due to regulatory issues. But that will likely soon change. After SEC Chair Gary Gensler announced he planned to resign early next year, Yun, tweeted “TON is going to the U.S.”

This profile is part of CoinDesk's Most Influential 2024 package. For all of this year's nominees, click here.

Jeff Wilser

Jeff Wilser is the author of 7 books including Alexander Hamilton's Guide to Life, The Book of Joe: The Life, Wit, and (Sometimes Accidental) Wisdom of Joe Biden, and an Amazon Best Book of the Month in both Non-Fiction and Humor. Jeff is a freelance journalist and content marketing writer with over 13 years of experience. His work has been published by The New York Times, New York magazine, Fast Company, GQ, Esquire, TIME, Conde Nast Traveler, Glamour, Cosmo, mental_floss, MTV, Los Angeles Times, Chicago Tribune, The Miami Herald, and Comstock's Magazine. He covers a wide range of topics including travel, tech, business, history, dating and relationships, books, culture, blockchain, film, finance, productivity, psychology, and specializes in translating "geek to plain-talk." His TV appearances have ranged from BBC News to the The View. Jeff also has a strong business background. He began his career as a financial analyst for Intel Corporation, and spent 10 years providing data analysis and customer segmentation insights for a $200 million division of Scholastic Publishing. This makes him a good fit for corporate and business clients. His corporate clients range from Reebok to Kimpton Hotels to AARP. Jeff is represented by Rob Weisbach Creative Management.