News: after an appearance in court in France, the CEO of Telegram, Pavel Durov, is under investigation. By paying a bail of 5 million euros to be released, Durov was released but cannot leave the country. Meanwhile, the price of the crypto TON remains at $5.50, in a dump of -15% compared to a week ago.
TON news: the CEO of Telegram Pavel Durov is under investigation in France
According to what reported, French prosecutors have stated that they have charged Pavel Durov, CEO of the messaging app Telegram. The charges are criminal in nature and concern his role in Telegram.
In practice, after an appearance in court, Durov is found to be under investigation and placed under judicial surveillance. In fact, Durov had to pay a bail of 5 million euros to be released, but he cannot leave France.
BREAKING || TELEGRAM’S PAVEL DUROV LEAVES PARIS COURT IN BLACK VAN. pic.twitter.com/msbZtWtiQi
— Bloomberg Whistleblower (@bloombergblower) August 28, 2024
“Pavel Durov of Telegram leaves the Paris court in a black van.”
Durov was arrested on August 24th at a French airport on the yet-to-be-formalized charge of being guilty of having published organized criminal acts through his app.
The CEO of Telegram appears to be involved in a French judicial investigation initiated in July “against an unnamed person.” The charges include complicity with illegal activities, refusal to communicate with authorities, money laundering, criminal association, and provision of encryption services without prior declaration.
From that moment, Durov was held in custody until August 28, when he appeared in court.
TON news: Pavel Durov under investigation in France and Telegram’s crypto stable at $5.50
After the arrest, the price of Telegram’s crypto, Toncoin (TON) experienced an overall drop of -20%.
At the time of writing, TON is worth $5.55 and is exactly in a dump of -15% compared to seven days ago. In fact, on August 24, before the news of the arrest, TON was worth $6.80.
Despite this, in the last 24 hours, TON appears to be in a pump of +3% and remains under observation by all types of crypto investors.
The detention of Telegram founder Pavel Durov is reverberating through the crypto venture capital sector, where some of the biggest players have invested in a digital token closely linked to the messaging app. https://t.co/7pcmzQO5ya
— Bloomberg Crypto (@crypto) August 29, 2024
“The detention of Telegram founder Pavel Durov is impacting the crypto venture capital sector, where some of the major players have invested in a digital token closely linked to the messaging app.”
The bets on Polymarket
As with every similar situation, here Polymarket has presented its new crypto bet.
Polymarket is a platform where users buy and sell shares using crypto, betting on the probability of future events occurring.
So, now, the question to bet on has been very simple: “Will Pavel Durov be released before October?” The bet will resolve to “Yes” if Durov is released by September 30 without house arrest or other places of custody.