The cryptocurrency Toncoin's price surged after Telegram's founder Pavel Durov was released from France, where he had been since his arrest in August 2024. The price has increased by more than 6% following the news.
Toncoin Price Analysis
Following the arrest of Telegram's founder Pavel Durov in August 2024, Toncoin's price fell by over 35%. Now, after his release, the price has risen by 18% in the last 24 hours and 13% over the last seven days. On December 4, 2024, Toncoin reached a price of $7.20 amid a crypto market rally in response to Donald Trump's re-election. However, the asset's value later decreased by 67%.
The Case Against Pavel Durov
French prosecutors accused Pavel Durov of running a platform that facilitates illegal activities, with charges announced on August 28, 2024. Durov later stated that the arrest was unnecessary and that the company was willing to cooperate with authorities if an appropriate legal request had been made.
Implications for Telegram and Toncoin
Telegram and Toncoin users welcomed Durov's release, seeing it as a victory for freedom of speech. However, allegations against Telegram persist, with French authorities viewing the platform as a source of illicit activities.
Pavel Durov’s release and the subsequent Toncoin price surge underscore the importance of Telegram and its founder in the global crypto industry. Durov’s case highlights the challenges in balancing online security with freedom of expression.
