Breaking News: Toncoin, a cryptocurrency owned by Telegram’s parent company The Open Network (TON) recovered from a 20% drop in value by appreciating 21.5% within 24 hours following the arrest in France of Telegram’s CEO Pavel Durov; 9AM News Nigeria can report.
In a statement published via its X account The Open Network (TON) made an announcement saying “Following the recent news related to Telegram’s founder Pavel Durov, we want to assure everyone that the TON community remains strong and fully operational.
As a community committed to freedom of speech and decentralization, we stand firmly by Pavel during this challenging time. Pavel has been a dedicated advocate for these values, and we believe his efforts to promote an open and decentralized internet will continue to inspire millions.
“The TON community remains focused on our mission, and we will continue our work to uphold these principles globally. We encourage everyone to stay calm and united, and to keep building as we navigate this situation together. Thank you for your continued support.”
Telegram Founder Pavel Durov’s Arrest
On August 24 2024 the founder of Telegram Pavel Durov was arrested in France along with his security guard and a young woman after flying in from Azerbaijan.
The French authorities have said he will be put on trial in the country’s court and will face charges on money laundering, drug peddling, terrorism, fraud and allowing criminal contents on his messaging platform Telegram.
Durov a citizen of Russia obtained French citizenship in August 2021. He is also a citizen of the European Union.
Telegram the instant messaging network founded by Pavel Durov now has over 800 million users globally.
Durov’s arrest has sparked global outrage especially from fellow tech founders like X’s CEO Elon Musk and other advocates of free speech. There has been an online campaign called #freepavel launched with the aim to pressure the French authorities to release him.
Toncoin’s response to Durov’s arrest saga
In the wake of the news of Pavel Durov’s arrest Toncoin took a hit plunging by 20% of its total market value. However following the popular outcry for his release and the ensuing campaigns calling for his freedom the cryptocurrency began to make a rapid recovery, recovering 21.5% of its value and showing prospects for a continued surge in its value.
Findings made by Ogasabi of 9AM News Nigeria show that one Toncoin is currently selling for between $5.5 – $5.9.
