- Telegram’s founder Pavel Durov was arrested, with authorities citing a lack of moderation on the platform.
- Toncoin dropped 12.84%, while Notcoin plummeted 15.79%, following Durov’s arrest at a Paris airport.
- The TON community reassures members, emphasizing support for Pavel Durov and a continued commitment to decentralization.
Pavel Durov, founder and CEO of Telegram, was arrested at the Bourget airport outside Paris on Saturday evening, according to reports by TF1 TV and BFM TV. Unnamed sources cited by these outlets revealed that the arrest is tied to concerns over Telegram’s insufficient moderation practices. Authorities claim that the platform’s lack of moderators has allowed criminal activity to proliferate unchecked on the messaging app.
Notably, Telegram has faced increasing scrutiny regarding how its platform handles user activity, with law enforcement highlighting the risks of unmoderated content. This latest development escalates the pressure on Durov and Telegram to address these concerns, while Durov’s legal team remains silent for the time being.
Price Declines for Telegram-Linked Cryptocurrencies
Following Durov’s arrest, two cryptocurrencies closely linked to Telegram, Toncoin and Notcoin, experienced sharp declines in their prices. Toncoin (TON) dropped by 13.80%, bringing its value to $5.81 at press time.
The market cap now sits at $14.82 billion, a notable decrease over the past 24 hours. Trading volume surged by 535.44% to $1.68 billion, likely due to panic selling after the news broke. Toncoin’s circulating supply stands at 2.53 billion, with a total supply of 5.11 billion.
Similarly, Notcoin (NOT) saw a 16.74% price drop, falling to $0.009592. Its market cap has dropped to $993 million, while the 24-hour trading volume jumped by 113.95%, reaching $534.6 million.
TON Community Addresses the Situation
In response to the ongoing situation, the TON community issued a statement expressing support for Pavel Durov. The community emphasized its dedication to maintaining its decentralized mission and commitment to freedom of speech, values championed by Durov himself. The statement also reassured users that the community remains fully operational despite recent events.
Notably, the community urged its members to stay calm and united, encouraging them to continue working towards their shared goals. This message was released to dispel uncertainty surrounding the arrest and the potential impact on Telegram-related tokens.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
