Crash

Plunge

Value

Toncoin

The Open Network, otherwise known as the TON blockchain, has issued a statement concerning the arrest of<a href="https://thecoinrise.com/telegram-lands-over-50m-from-sales-of-catchy-usernames-on-ton/"> Telegram</a> co-founder and CEO Pavel Durov. The French authorities arrested the 39-year-old Franco-Russian billionaire at Bourget airport for offenses allegedly related to his messaging app. 
<h2 id="b-ton-community-solidarity-for-telegram-founder-b">TON Community Solidarity For Telegram Founder</h2> 
<a href="https://x.com/ton_blockchain/status/1827490660858933483">In a statement on X,</a> TON posted a message of solidarity for Durov and assurance to the community that the blockchain remains fully functional and strong despite the recent arrest and detention by the French. 
According to the statement, the TON community’s commitment to decentralization and freedom of speech remains steadfast, particularly in challenging times. It believes that Telegram’s CEO will continue to inspire millions globally by dedicating himself to values that promote an open and decentralized internet for all. 
The statement also encouraged everyone in the TON community to remain calm and continue building.<a href="https://thecoinrise.com/ton-blockchains-tvl-surpasses-600-million/"> TON blockchain has recorded a rapid growth</a> trajectory, surpassing $600 million in Total Value Locked as of June this year. This affirms the platform’s increased user engagement due to its user-friendly nature and low transaction fees. 
<h2 id="b-toncoin-s-price-takes-a-massive-plunge-b">Toncoin’s Price Takes a Massive Plunge</h2> 
However, despite these assurances the price of TON’s native token has plunged significantly as<a href="https://coinmarketcap.com/currencies/toncoin/"> data</a> at the time of writing shows Toncoin trading at $5.65, which represents a 16.51% decrease in the past 24 hours. The sudden plunge followed news of Durov’s arrest in Bourget airport just after he stepped off his private jet. 
It would appear that the TON community’s post has done little to calm the nerves of blockchain investors. Perhaps the charges being leveled against Durov have sparked concerns among members of the community. 
<h2 id="b-legal-implications-and-diplomatic-involvement-b">Legal Implications and Diplomatic Involvement</h2> 
The French agency OFMIN says Durov’s arrest is part of an ongoing preliminary investigation of the Telegram CEO. Notably, the OFMIN handles cases involving the prevention of violence against minors, cyberbullying, drug trafficking, fraud, and organized crime. 
This gives insight into the likely charges that will be brought against Durov, who will face indictment anytime now.<a href="https://www.aljazeera.com/news/2024/8/25/telegram-messaging-app-ceo-pavel-durov-arrested-in-france"> Reports say Russian diplomats</a> have established communication with Durov’s lawyer, and the embassy in France has demanded a guarantee of Durov’s rights. 
The post <a href="https://thecoinrise.com/ton-blockchain-rallies-behind-detained-telegram-ceo-amid-price-crash/">TON Blockchain Rallies Behind Detained Telegram CEO Amid Price Crash</a> appeared first on <a href="https://thecoinrise.com">TheCoinrise.com</a>.

TON Blockchain Rallies Behind Detained Telegram CEO Amid Price Crash

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