Pavel Durov, the founder of Telegram, was arrested in France on August 24th. French authorities allege that Durov faces charges related to terrorism, money laundering, and drug trafficking. The arrest was reportedly due to Telegram's insufficient regulatory oversight, which has led to the platform being used for various criminal activities, including the spread of misinformation and hate speech.
The news of Durov’s arrest had a significant impact on the cryptocurrency market, especially the value of Toncoin, a token closely associated with Telegram. After the arrest, the value of Toncoin fell by more than 20% and continued to fall.
DOGS Token, which was also set to be listed on August 26, has been caught in the crossfire of Durov’s arrest. The news has injected a level of uncertainty into the market, with investors and traders now questioning the token’s short-term viability. The listing was intended to coincide with International Dog Day, but excitement has waned somewhat following Durov’s arrest. The project team may be re-evaluating its strategy, and the market’s reaction will be closely watched as the listing date approaches.
There is growing speculation that the arrest of Pavel Durov might be part of a broader strategy to limit his increasing influence in the cryptocurrency sector. Through initiatives such as Telegram mini-games and tap-to-earn projects, Durov has been pioneering the integration of blockchain technology with social media, providing users with unique opportunities to earn and interact. Some suggest that his arrest could be a deliberate move by powerful interests to hinder this progress and prevent the further decentralisation of communication and financial power.
Born in Russia, 40-year-old Pavel Durov currently resides in Dubai and became a French citizen in 2021. He is well-known for founding both VKontakte (VK), Russia's largest social media platform, and Telegram, a popular messaging app. Durov left Russia in 2014 after stepping down as VK's CEO due to management disagreements and has since focused on growing Telegram, which now has a significant user base in Russia, Ukraine, and other countries. Telegram is especially popular among Russian-speaking users and has ambitious plans to reach 1 billion users by next year. Forbes estimates Durov's net worth at $15.5 billion.
Telegram founder and CEO Pavel Durov
In 2018, Telegram launched The Open Network (TON), a blockchain project designed to support decentralized applications and digital assets. However, due to regulatory pressures, the project was discontinued in 2020, although it was later taken over by the NewTON team, now known as the TON Foundation. TON aims to simplify cryptocurrency transactions through Telegram's extensive user base, making blockchain technology more accessible and user-friendly.
Despite the project's potential, Durov's recent arrest has heightened fears about Telegram's ability to navigate regulatory challenges. Investors have responded by selling off related tokens, further destabilizing the market.
Before his arrest, Durov announced that Telegram's user base had grown to over 950 million, driven in part by the platform's integration of cryptocurrency games within its "mini apps." One of these games, Hamster Kombat, reportedly attracted more than 300 million players in the months leading up to the launch of its token airdrop (HMSTR).
Despite its large user base, Telegram has not gone public and has raised significant funds through other means, including over $1.5 billion through bond sales and $1.7 billion from cryptocurrency-related financing as of April this year.
Airdrop season on The Open Network is nearly here, and developers admit that demand could get the better of the Telegram-linked network.
WenJunTelegram 迷你应用程序 TADA 推出之后推出的。该应用程序允许用户直接在 Telegram 中使用 Toncoin 或 USDt-TON 预订乘车和付款，这标志着将 Web3 技术集成到日常服务中的重要一步。
WenJunX Empire is introducing pre-market trading using custom NFT vouchers for its upcoming token, allowing players to trade these vouchers on the Getgems marketplace before the official token launch. The game offers complex gameplay and minting options, with NFT vouchers costing around $36 and a 20% royalty supporting token liquidity.
AnaisThe Open Network (TON) has surpassed 1 billion transactions, driven by its integration with Telegram and a surge in activity from the DOGS airdrop token. Despite its rapid growth and high user engagement, TON faced technical issues and network disruptions due to the intense demand from DOGS transactions.
WeatherlyTelegram CEO Pavel Durov's arrest in France, on charges including money laundering, has triggered controversy and diplomatic tension, with concerns about Western bias and implications for cryptographic policy.
Xu LinMore than four hours have passed since the last block was generated on the TON blockchain, and it is currently in a stagnant state.
WenJunPavel Durov's arrest drops Toncoin by 27%; whale activity hints at a possible rebound amid market speculation and high network activity.
Xu LinTelegram founder Pavel Durov was arrested in France, exposing various legal problems existing in the Telegram platform. Binance’s listing of TON means that it has once again brought new legal risks to itself. Justin Sun and Binance’s first sister He Yi needs to find a new way out under the severe regulatory environment.
WenJunPavel Durov's arrest caused a sharp drop in Toncoin's value and shook investor confidence in Telegram's blockchain projects. Meanwhile, a trader made a 400% profit by capitalising on the buzz around the DOGS token within the Telegram ecosystem.
WeatherlyPavel Durov's arrest caused Toncoin to drop 14.71% and open interest to rise 32%. Market sentiment is bearish, but a rebound could occur if charges are resolved. Rumble CEO Chris Pavlovski has left Europe due to rising regulatory tensions.
Xu LinSouth Korea is battling a surge of deepfake pornography, and the government is cracking down on Telegram, the messaging app where much of this content is being shared. The Korean Communications Standards Commission is requesting help from France to investigate Telegram and is urging other social media platforms to take action.
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