Toncoin (TON) declines after arrest of Telegram CEO Pavel Durov
The price of Toncoin (TON) took a significant dive over the weekend. The cryptocurrency dropped nearly 20% during this past weekend. Currently, it is slowly starting to recover, having risen by 0.8% in the last 24 hours.
Over the weekend, French media reported that Durov, the CEO and founder of Telegram, was arrested. He was detained at Le Bourget Airport in Paris by OFMIN, a special police unit. According to the arrest warrant, Telegram has not been doing enough to combat illegal activities, for which Durov is being held responsible.
What is particularly striking about this arrest is that Durov was even present in France. The CEO of Telegram was aware that he was being sought. Elon Musk immediately called for Durov's release on X.
Despite Pavel Durov's legal troubles, the TON ecosystem remains operational. TON, the blockchain system integrated with Telegram, continues to function without any interruption.