tl;dr
Pavel Durov has been released by French authorities after four days in custody but faces strict restrictions, including a €5 million bail, and is not allowed to leave France. This follows an ongoing investigation into alleged organized crime related to his messaging app, Telegram. The global market ...
Pavel Durov has been released by French authorities after four days in custody but faces strict restrictions, including a €5 million bail, and is not allowed to leave France. This follows an ongoing investigation into alleged organized crime related to his messaging app, Telegram. The global market has reacted strongly, with high-profile figures like Elon Musk and Robert F. Kennedy Jr. expressing disapproval of the arrest.
Meanwhile, the price of Toncoin remains flat at $5.46 amid the legal uncertainties and increased trading volume. The case has highlighted the tension between social media platforms and government authorities, as Durov also faces a separate investigation for alleged "serious acts of violence" against one of his children in France.
The recent release of Pavel Durov has gained notable traction on a global scale. However, despite his freedom, the Telegram CEO will remain under strict conditions imposed by the French prosecutors. According to a recent report, the Russian-born tech mogul is not allowed to leave the territory of France and will remain under judicial supervision. In addition, he must pay a €5 million bail and report to the police twice weekly. The restrictions come as part of an ongoing investigation into alleged organized crime related to his messaging app.
Meanwhile, the news has taken the global market by storm, given the immense support he has received on a global scale. Notably, “#FREEDUROV” was one of the most-used hashtags on social media platforms following the detention of the Telegram CEO. High-profile figures like Elon Musk and Robert F. Kennedy Jr. voiced their disapproval of the arrest, calling it a crackdown on free speech. However, despite Durov’s release as a relief for his supporters, the restrictions set by French authorities indicate that the legal battle is far from over.
According to reports from the Paris Prosecutor’s office, Durov’s formal investigation does not imply guilt but suggests that there is sufficient cause to continue probing the case. In other words, the legal frameworks could allow the probe to continue for a longer period without necessarily leading to a trial. It adds a layer of uncertainty to the situation for the CEO. This move has raised questions over the future of the messaging app as well as on the balance between privacy and freedom of speech.
The release of Pavel Durov under judicial supervision highlights the ongoing tension between social media platforms and government authorities. However, despite the news, Toncoin’s price remained near the flatline at $5.46, with its trading volume soaring over 93% to $1.47 billion. Notably, the Toncoin price fell to as low as $5.09 this week, following the CEO’s detention in France.
The flat trading also reflects the investors’ caution amid the ongoing legal uncertainties. Besides, the case has also shined a spotlight on the complex relationship between technology firms and regulatory authorities. Notably, the Telegram CEO now faces a separate investigation in France for alleged “serious acts of violence” against one of his children.