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<p class="is-style-lead">Telegram founder Pavel Durov was arrested near Paris; U.S. presidential election odds shift on Polymarket; a judge denied Kraken’s motion to dismiss legal charges; Binance faces fresh legal woes; and spot Bitcoin ETFs saw consecutive days of net inflows.</p> 
<h2 class="wp-block-heading" id="telegram-founder-arrested">Telegram founder arrested</h2> 
<ul class="wp-block-list"> 
 <li>Toncoin collapsed over 24 hours as reports confirmed that French authorities arrested Telegram founder Pavel Durov. </li> 
</ul> 
<ul class="wp-block-list"> 
 <li>The Telegram CEO was <a href="https://crypto.news/pavel-durovs-arrest-france-toncoin-plunges-20-percent/" target="_blank" rel="noreferrer noopener">arrested</a> on Aug. 24 upon his arrival at an airport outside Paris. Authorities allege Durov is complicit in the free flow of criminal activities on his messaging and social media app Telegram.&nbsp;</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>Notcoin also crashed by 18.87% within the same timeframe.</li> 
</ul> 
<h2 class="wp-block-heading" id="trump-vs-harris">Trump vs. Harris</h2> 
<ul class="wp-block-list"> 
 <li>On Aug. 19, legacy media <a href="https://crypto.news/harris-would-pick-gary-gensler-as-treasury-secretary-report/" target="_blank" rel="noreferrer noopener">reported</a> on mounting speculations that Democratic candidate Kamala Harris could be looking to nominate SEC Chair Gary Gensler for the role of Treasury Secretary if she wins the presidential elections.</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>As concerns about her position in the crypto industry grew, Harris’ team <a href="https://crypto.news/harris-official-stance-on-crypto-update/" target="_blank" rel="noreferrer noopener">assured</a> last week that she would back policies promoting the growth of emerging technologies like cryptocurrency.</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>Her Republican opponent, former President Donald Trump, <a href="https://crypto.news/polymarket-trump-overtakes-harris-after-rfk-jr-withdrawal/" target="_blank" rel="noreferrer noopener">regained</a> a lead over Harris on Polymarket, a website for crypto bettors. At last check, the two candidates are tied, each with 49%. </li> 
</ul> 
<h2 class="wp-block-heading" id="kraken-v-sec-to-proceed">Kraken v. SEC to proceed</h2> 
<ul class="wp-block-list"> 
 <li>Last week, a U.S. District Judge <a href="https://crypto.news/sec-lawsuit-against-kraken-to-proceed-ruling/" target="_blank" rel="noreferrer noopener">rejected</a> Kraken’s motion to dismiss the SEC’s charges against the crypto exchange, effectively allowing the securities lawsuit to move forward.</li> 
</ul> 
<h2 class="wp-block-heading" id="binance-faces-new-legal-woes">Binance faces new legal woes</h2> 
<ul class="wp-block-list"> 
 <li>Multiple individuals <a href="https://crypto.news/binance-accused-of-acting-as-get-away-driver-in-new-crypto-laundering-lawsuit/" data-type="link" data-id="https://crypto.news/binance-accused-of-acting-as-get-away-driver-in-new-crypto-laundering-lawsuit/">filed</a> a class action lawsuit against Binance and founder Changpeng Zhao for allegedly enabling money laundering.&nbsp;</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>Meanwhile, on Aug. 22, sources <a href="https://crypto.news/binance-founder-cz-moved-to-halfway-house-remains-in-custody/" target="_blank" rel="noreferrer noopener">confirmed</a> that, while still in custody, Zhao had been moved to a halfway house, a development that preludes his imminent release from prison.&nbsp;</li> 
</ul> 
<h2 class="wp-block-heading" id="crypto-etf-developments">Crypto ETF developments</h2> 
<ul class="wp-block-list"> 
 <li>On the last trading day of the week, Aug. 23, spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) ETFs <a href="https://farside.co.uk/btc/" target="_blank" rel="">recorded</a> $252 million in net inflows, marking their largest positive intraday netflow in nearly a month. Conversely, the ETH products saw $5.7 million in net outflows.</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>BTC ETFs saw five consecutive days of net inflows last week, totaling $506.4 million. In contrast, ETH ETFs witnessed five straight days of net outflows, amounting to $44.5 million in negative flows.</li> 
</ul> 
<ul class="wp-block-list"> 
 <li>Meanwhile, <a href="https://crypto.news/solana-etfs-have-just-suffered-a-huge-setback-heres-why/" target="_blank" rel="noreferrer noopener">reports</a> confirmed that the 19b-4 filings made by the stock exchange Cboe for spot Solana (<a href="https://crypto.news/price/solana/" target="_blank" rel="noreferrer noopener">SOL</a>) ETFs had not even made it to the Federal Register as the SEC remains undecided on the securities status of Solana.</li> 
</ul> 
<h2 class="wp-block-heading" id="sunpump-boosts-tron-blockchain">SunPump boosts TRON blockchain</h2> 
<ul class="wp-block-list"> 
 <li>On Aug. 21, Tron (<a href="https://crypto.news/price/tron/" target="_blank" rel="noreferrer noopener">TRX</a>), the native token of the TRON network, <a href="https://crypto.news/trx-jumps-12-amid-sunpump-memecoin-hype/" target="_blank" rel="noreferrer noopener">secured</a> the top gainer spot amid a 12% spike. This was largely due to the growing hype surrounding TRON’s new meme coins deployer, SunPump.&nbsp;<br></li> 
 <li>As SunPump facilitated the deployment of thousands of meme coins on TRON, the network generated $3.8 million in revenue on Aug. 21, soaring over Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>).</li> 
</ul> 
<p> Read more: <a href="https://crypto.news/chart-of-the-week-polygon-is-on-track-for-a-145-rally-by-year-end/"> Chart of the week: Polygon is on track for a 145% rally by year-end </a> </p>

Telegram founder arrested, Trump and Harris tied on Polymarket, SEC v. Kraken, Binance under legal scrutiny again | Weekly Recap

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