Telegram Issues a Statement Following Durov's Arrest, But Toncoin (TON) Price Crashes Again

The CEO of Telegram, Pavel Durov, was arrested by French police on Saturday at Le Bourget Airport near Paris.

Telegram CEO Pavel Durov was arrested by French police on Saturday at Le Bourget Airport. The incident occurred as Durov, a woman, and his bodyguard from Azerbaijan were preparing to board a private jet.

Following the news, Telegram issued a statement on Sunday via their official X account. The company asserted its compliance with EU laws, including the Digital Services Act, and stated that its moderation practices align with industry standards and are continuously improving. They also highlighted that Durov frequently travels in Europe and has nothing to hide.

Telegram strongly refuted the idea that a platform or its owner should be held responsible for potential misuse by users. They emphasized the platform’s significance, as almost a billion users worldwide rely on Telegram for communication and access to crucial information. The statement concluded by expressing anticipation for a swift resolution and reaffirming Telegram's commitment to its users.

TON Price Crashes

However, the TON price crashed immediately after the news broke, which is not unexpected in the crypto market. The ninth-largest cryptocurrency was trading at around $6.8 when the news surfaced and quickly plunged to the $5.3 area, representing a significant drop of approximately 22%.

Toncoin’s price then bounced back to $5.9 but has since retraced to $5.6 at press time.

This kind of negative news often has a substantial impact on cryptocurrency prices, as has been observed numerous times in the past. Investors and traders tend to react quickly to developments that could potentially affect a project’s future or its leadership.

Despite the crash, it appears that the TON price has found support around the $5.3-$5.6 area, potentially indicating a temporary floor for the asset.

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