2024

Toncoin

Elon Musk

<p class="is-style-lead">Toncoin faced a strong bearish momentum after Pavel Durov, the founder of Telegram, was arrested at Le Bourget airport near Paris.</p> 
<p>Toncoin (<a href="https://crypto.news/price/toncoin/" target="_blank" rel="noreferrer noopener">TON</a>) plunged by 20.6% in the past 24 hours and is trading at $5.3 at the time of writing. The asset’s market cap declined to $13.6 billion, making it the ninth-largest cryptocurrency.</p> 
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  TON price – Aug. 25 | Source: <a href="https://crypto.news/price/toncoin/" target="_blank" rel="noreferrer noopener">crypto.news</a>
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<p>Toncoin saw a 690% surge in its daily trading volume, reaching the $2 billion mark. It currently faces increased selling pressure despite the market-wide rebound on Saturday, Aug. 24.</p> 
<p>The coin has become integrated with Telegram, the messenger app that boasts nearly one billion users and <a href="https://crypto.news/ton-and-telegram-plan-to-bring-500m-users-to-web3-by-2028/" data-type="link" data-id="https://crypto.news/ton-and-telegram-plan-to-bring-500m-users-to-web3-by-2028/">aspires</a> to be a <a href="https://crypto.news/tag/Web3">Web3</a> innovator. One of its developments is the Toncoin, or TON — an acronym for Telegram Open Network.</p> 
<p>According to numerous French media <a href="https://www.tf1info.fr/justice-faits-divers/info-tf1-lci-le-fondateur-et-pdg-de-la-messagerie-cryptee-telegram-interpelle-en-france-2316072.html" data-type="link" data-id="https://www.tf1info.fr/justice-faits-divers/info-tf1-lci-le-fondateur-et-pdg-de-la-messagerie-cryptee-telegram-interpelle-en-france-2316072.html" target="_blank" rel="">reports</a>, 39-year-old Durov is expected to appear in court today. The billionaire Russian exile could allegedly face multiple criminal charges including terrorism, drug trafficking, fraud, money laundering, and child abuse content.</p> 
<p> You might also like: <a href="https://crypto.news/harris-official-stance-on-crypto-update/"> Harris dips a toe in the crypto waters — is it enough? </a> </p> 
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   <p lang="en" dir="ltr">🚨🇫🇷 BREAKING: PAVEL DUROV FACES 20 YEARS IN PRISON IN FRANCE<br><br>Telegram founder Pavel Durov is set to appear before a judge on Saturday evening, facing multiple charges, including terrorism, drug trafficking, fraud, money laundering, and child abuse content. <br> <br>French media… <a href="https://t.co/3l3SAc31s3" target="_blank" rel="">https://t.co/3l3SAc31s3</a></p>— Mario Nawfal (@MarioNawfal) <a href="https://twitter.com/MarioNawfal/status/1827454329571213409?ref_src=twsrc%5Etfw" target="_blank" rel="">August 24, 2024</a>
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<p><a href="https://crypto.news/notcoin-donates-6-8m-not-to-telegrams-pavel-durov/" target="_blank" rel="noreferrer noopener">Durov</a> may face up to <a href="https://www.youtube.com/watch?v=qlHuf3EUNKc" data-type="link" data-id="https://www.youtube.com/watch?v=qlHuf3EUNKc" target="_blank" rel="">20 years</a> in prison for not complying with the content moderation law in the country.&nbsp;</p> 
<p>X.com owner Elon Musk — who often faces criticism over content moderation — has already expressed his support for the Telegram founder, per the <a href="https://www.bbc.com/news/articles/ckg2kz9kn93o" data-type="link" data-id="https://www.bbc.com/news/articles/ckg2kz9kn93o" target="_blank" rel="">BBC</a>.</p> 
<p>Musk seemingly mocked Europe’s laws for what he argues is free speech censorship.&nbsp;</p> 
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 <p>“It’s 2030 in Europe and you’re being executed for liking a meme.”</p> <cite>Elon Musk said pointing out Durov’s arrest in France.</cite>
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   <p lang="en" dir="ltr">POV: It’s 2030 in Europe and you’re being executed for liking a meme <a href="https://t.co/OkZ6YS3u2P" target="_blank" rel="">https://t.co/OkZ6YS3u2P</a></p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1827484648454418881?ref_src=twsrc%5Etfw" target="_blank" rel="">August 24, 2024</a>
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<p>Telegram has been scrutinized for allowing users to openly share far-right and neo-Nazi views to the point where groups used the app to organize <a href="https://www.cnn.com/2024/08/05/uk/uk-far-right-protests-explainer-gbr-intl/index.html" data-type="link" data-id="https://www.cnn.com/2024/08/05/uk/uk-far-right-protests-explainer-gbr-intl/index.html" target="_blank" rel="">riots</a> in the UK earlier this month. </p> 
<p>OFIM, a specialized unit of the French National Police, had issued a criminal complaint against Durov alleging that he was complicit in Telegram’s lack of content moderation when it comes to fraud, drug trafficking, and distribution of child sexual abuse material.</p> 
<p>TON’s official account on X said that the <a href="https://crypto.news/ton-and-telegram-plan-to-bring-500m-users-to-web3-by-2028/" target="_blank" rel="noreferrer noopener">TON</a> community will “stand firmly” by <a href="https://crypto.news/pavel-durov-reveals-new-telegram-blockchain-features/" target="_blank" rel="noreferrer noopener">Durov</a> as he was committed to freedom of speech.&nbsp;</p> 
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 <p>“We believe his efforts to promote an open and decentralized internet will continue to inspire millions.”</p> <cite>TON community said on X.</cite>
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<p> Read more: <a href="https://crypto.news/nft-market-up-23-in-weekly-sales-ethereum-leads-charge/"> NFT market up 23% in weekly sales; Ethereum leads charge </a> </p>

Telegram founder Pavel Durov arrested, Toncoin plunges 20%

crypto.news

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