Business Desk
Aug 27, 2024
Toncoin, the proprietary cryptocurrency of the popular messaging app Telegram's The Open Network Blockchain (TON) surged by 1.5% on Monday.
The rise is said to have emerged within 24 hours after the Telegram cryptocurrency took a notable nosedive of almost 20% following the arrest of Telegram CEO Pavel Durov.
The Telegram CEO was allegedly arrested on August 25 (Sunday) in France for failing to ensure the moderation of inappropriate content on his platform.
Right after the arrest of Durov, TON issued a statement on X (formerly Twitter), announcing full support for its founder and urging the Ton Community to back up the campaign and raise their voices for freedom of speech.
“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," TON tweeted.
"As a community committed to freedom of speech and decentralisation, 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 post added.
Durov was reportedly arrested the moment he offboarded his private jet at Paris Le Bourget airport where he arrived from Azerbaijan, accompanied by a security guard and an unknown woman.
