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Telegram troubles continue following founder arrest 👮🏼
The detention of Telegram CEO Pavel Durov continues to ripple through the crypto industry.
Stephen Graves
August 27, 2024
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📝 What you need to know
The arrest of Telegram co-founder and CEO Pavel Durov over the weekend continues to ripple through the crypto industry, with major tokens on The Open Network dropping in response to the news.
The Open Network’s native token Toncoin (TON) and tap-to-earn game Notcoin (NOT) plunged by over 20% following Durov’s arrest.
Originally theorized by Telegram in 2018, The Open Network project was picked up by a decentralized community after Telegram abandoned it in the face of an SEC lawsuit.
Meanwhile, the United Arab Emirates said Monday it is closely monitoring Durov’s arrest, urging French authorities to provide him with “all consular services.”
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