Telegram CEO Arrest Sparks Market Chaos: Toncoin Down 20%
Telegram CEO Pavel Durov Arrested – In a surprising turn of events, French authorities have detained Pavel Durov, the co-founder and CEO of Telegram, in Paris. The arrest has ignited a resurgence of an old hoax claiming that Apple plans to remove Telegram from its App Store. However, Apple has clarified that these allegations are baseless and that Telegram complies with European Union laws. The company also refuted accusations of Durov abusing the platform, labeling them as false.
Toncoin (TON) Price Drops 20% Following Durov’s Arrest
Following the news of Pavel Durov’s arrest, the price of Toncoin (TON) plummeted by over 20%, reflecting market concerns over the future of Telegram. Despite the sharp decline, TON has managed a modest recovery, currently trading at $5.77. The 24-hour trading range for TON has seen a low of $5.32 and a high of $5.94. Additionally, trading volume has significantly decreased, indicating a cautious market sentiment.
Apple Not Removing Telegram App: Hoax Resurfaces
Rumors circulating on social media suggested that Apple was planning to remove Telegram from the App Store and even delete it from users’ iPhones. These rumors, however, are nothing more than a recycled hoax from 2021. X Community Notes quickly debunked the claims, stating, “Apple is not doing any such thing. The image is from a since-debunked Facebook post from 2021.” Telegram also took to X to assure users that it fully complies with EU regulations, including the Digital Services Act, and dismissed the allegations against Durov as “absurd.”
Digital Resistance Campaign Gains Momentum
In response to the arrest, Telegram and its affiliated projects, including Toncoin, have launched a Digital Resistance and “Free Durov” campaign. The campaign is symbolized by the “Resistance Dog,” a global emblem of the movement initiated by Durov to protect user privacy and freedom of speech on the platform. Telegram channels and TON Community have adopted this symbol in solidarity with their founder.
Durov has previously expressed concerns about the challenges Telegram faces, not from governments, but from tech giants like Apple and Google. “When it comes to freedom of speech, those two platforms can basically censor whatever you can read or access on your smartphone,” Durov remarked in an earlier interview.
Support from the Crypto Community
The crypto community has rallied behind Durov, with prominent figures like Elon Musk, Robert F. Kennedy Jr., and Vitalik Buterin calling for his immediate release. Their support underscores the broader concern within the tech and crypto industries regarding freedom of speech and platform independence.
Toncoin, Notcoin, and Resistance Dog (REDO) Market Movements
The arrest of Pavel Durov has not only impacted Toncoin but also led to significant market movements in related cryptocurrencies. Toncoin’s price, after its initial 20% drop, has seen a slight recovery to $5.77. Notcoin, another crypto associated with the Telegram ecosystem, also experienced a more than 10% decline, currently trading at $0.009593.
Conversely, the price of Resistance Dog (REDO), a token symbolizing the Digital Resistance campaign, has surged over 160% in the last 24 hours, with the price now at $0.708. The trading volume for REDO has skyrocketed by 900%, reflecting strong support from the community in response to Durov’s situation.
FAQ: Telegram CEO Pavel Durov’s Arrest and Its Aftermath
Who is Pavel Durov, and why was he arrested?
Pavel Durov is the co-founder and CEO of Telegram, a popular private messaging app. He was recently detained in Paris, reportedly on allegations related to platform abuse. However, Telegram has dismissed these allegations as false and absurd.
How has Pavel Durov’s arrest impacted the cryptocurrency market?
The arrest of Pavel Durov led to a significant drop in the price of Toncoin (TON), a cryptocurrency associated with Telegram. TON’s price fell by over 20% after the news broke, though it has since slightly rebounded.
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