Pavel Durov, the founder of Telegram, has been granted permission to leave France for Dubai. This move has stirred the crypto community.
Background of the Decision
Following Pavel Durov's arrest in August 2024, he faced potential indictment in France. However, by paying a €5 million bail, he was allowed to leave the country. His choice of Dubai, known for its favorable tax conditions and lack of extradition agreements, is significant.
Crypto Market Reaction
Durov's departure prompted an immediate response in the crypto market. His flagship project, Toncoin (TON), saw a substantial price surge, indicating investor confidence in the future of the Telegram ecosystem. Toncoin's price increased by 17% in 24 hours, with trading volumes rising to $304 million.
Future of Durov's Case
Despite being able to leave France, Pavel Durov may still face legal challenges. If convicted, he could face up to 20 years in prison. The question remains whether Dubai will be his permanent refuge or just a temporary respite.
Durov's move to Dubai raises new questions about the progression of his legal case and the future of Telegram. The crypto community continues to keep a close watch on these developments.
