Toncoin (TON) Plummets 19% Amid Reports About Telegram CEO’s Arrest in France

Bitget App

Trade smarter

Bitget

News

Cryptopotato2024/08/24 16:00

By:Author: Jordan Lyanchev

TON plunged in minutes after the French media broke the news.

Pavel Durov, the founder and CEO of Telegram, was reportedly arrested in France on Saturday evening after getting out of his private jet.

Local media said the reason for his apprehension was related to offenses committed by the popular messaging app.

Citing unnamed sources, TF1info broke the news on Saturday evening, claiming that Durov was arrested at Le Bourget Airport, located northeast of Paris.

Although he has French and UAE passports, the Russian embassy said it had taken “immediate steps” to clarify the situation.

According to the media sources, Durov’s arrest was strongly related to “suspicious” activities by the messaging app he runs. Some of the offenses he could face are as follows: terrorism, narcotics, complicity, fraud, and money laundering.

It’s worth noting that Toncoin, which has strong history and current relationships with Telegram, plummeted after the news came out.

TON dumped from $6.75 to under $5.5 in less than 12 hours. Data from CoinGecko shows that the asset is currently down by 19% on a daily scale.

Tags: Telegram Toncoin (TON)

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

The Federal Reserve's Beige Book shows little change in U.S. economic activity, with increasing divergence in the consumer market. JPMorgan predicts a Fed rate cut in December. Nasdaq has applied to increase the position limit for BlackRock's Bitcoin ETF options. ETH has returned to $3,000, signaling a recovery in market sentiment. Hyperliquid has sparked controversy due to a token symbol change. Binance faces a $1 billion terrorism-related lawsuit. Securitize has received EU approval to operate a tokenization trading system. The Tether CEO responded to S&P's credit rating downgrade. Large Bitcoin holders are increasing deposits to exchanges. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively improved by the Mars AI model.

MarsBit•2025/11/30 21:01

Mars Morning News | ETH returns to $3,000, extreme fear sentiment has passed

The central bank sets a major tone on stablecoins for the first time—where will the market go next?

The People's Bank of China held a meeting to crack down on virtual currency trading and speculation, clearly defining stablecoins as a form of virtual currency with risks of illegal financial activities, and emphasized the continued prohibition of all virtual currency-related businesses.

MarsBit•2025/11/30 21:01