The arrest of Telegram CEO Pavel Durov in France on August 24, 2024, has sparked significant controversy and criticism from various quarters. Durov faces a range of charges, including providing unlicensed cryptographic services, importing cryptographic tools without declaration, conspiracy related to child pornography, and money laundering. His detention could last up to 96 hours, until August 28, 2024.
Read more: Macron Responds to Telegram CEO’s Arrest, Denies Political Motive
Vitalik Buterin, co-founder of Ethereum, has expressed concerns over what he perceives as a Western bias in the response to Durov’s arrest. Buterin observed that the majority of those defending Durov and questioning the legitimacy of his detention are from Western countries. He suggested that this pattern reflects a broader issue of bias in how different regions' legal and political actions are perceived and reported.
The arrest has elicited strong reactions, particularly from Russia. The Russian embassy in France has demanded explanations for the detention, and some Russian-speaking bloggers have called for global protests outside French embassies. This international outcry underscores the geopolitical dimensions of the case and highlights the tension between national legal frameworks and international responses.
The arrest of Durov, who has been a prominent figure in the development of cryptographic tools and the TON blockchain, raises questions about the intersection of national security, cryptographic innovation, and international diplomacy. As the situation develops, it could have significant implications for the future of Telegram, the TON network, and broader global policies surrounding cryptography and digital privacy.
Telegram's top crypto games, Hamster Kombat (HMSTR) and Catizen (CATI), have seen their tokens drop over 50% from peak values, echoing declines in other gaming tokens like Notcoin (NOT) and Toncoin (TON). The question now is whether they can recover or face a continued decline and possible collapse.
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Cointelegraph“In these circumstances we can no longer continue to serve our clients from Russia,” said Vitalii Kedyk, CEO of Currency.com’s Ukraine arm.
CointelegraphThe discount brokerage has seen a steep decline in crypto-related revenue over the past 12 months as retail traders exited the market.
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