The CEO of Telegram, Pavel Durov, was arrested by French police on Saturday at Le Bourget Airport near Paris. Durov was traveling with a woman and his bodyguard from Azerbaijan when the incident occurred.
Last night, Telegram issued a statement via their official X account addressing the situation. The company affirmed its compliance with EU laws, including the Digital Services Act, stating that its moderation practices align with industry standards and are continuously improving. They also noted that Durov frequently travels in Europe and has nothing to hide.
Telegram strongly rejected the notion that a platform or its owner should be held responsible for potential misuse by users. They highlighted the platform’s significance, noting that almost a billion users globally rely on Telegram for communication and access to vital information. The statement concluded by expressing anticipation for a swift resolution to the situation and reaffirming Telegram’s commitment to its users.
Telegram abides by EU laws, including the Digital Services Act — its moderation is within industry standards and constantly improving. Telegram's CEO Pavel Durov has nothing to hide and travels frequently in Europe. It is absurd to claim that a platform or its owner…
— Telegram Messenger (@telegram) August 25, 2024
TON Price Reacts to the News
However, the TON price crashed immediately after the news broke, which is not unexpected in the crypto market. The ninth-largest cryptocurrency was trading at around $6.8 when the news surfaced and quickly plunged to the $5.3 area, representing a significant drop of approximately 22%.
Toncoin’s price then bounced back to $5.9 but has since retraced to $5.6 at press time.
This kind of negative news often has a substantial impact on cryptocurrency prices, as has been observed numerous times in the past. Investors and traders tend to react quickly to developments that could potentially affect a project’s future or its leadership.
Despite the crash, it appears that the TON price has found support around the $5.3-$5.6 area, potentially indicating a temporary floor for the asset.
Read also: How Will Ripple’s XRP Price Hit $3 in the ‘Upcoming Months’
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