Telegram-Linked Toncoin Slumps 20% Since Pavel Durov’s Arrest—As Crypto Industry Calls For Billionaire’s Release

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Toncoin,TON Blockchain,Pavel Durov

Siladitya Ray is a reporter on the Forbes news team who covers major world news stories breaking overnight with a focus on technology and online platforms. He joined Forbes in 2020 and works in New Delhi.

Could Georgia’s New Rules Affect The 2024 Election? Here’s What To Know As Democrats Challenge Them In Court.The value of Toncoin, the cryptocurrency linked to the messaging platform Telegram, has slumped more than 20% since French authorities arrested Telegram founder and CEO Pavel Durov on Saturday as part of an investigation into the alleged criminal activity on the app.

Since the Telegram CEO’s arrest on Saturday, Toncoin’s price has slipped from roughly $6.80 to $5.42.Durov’s arrest Tuesday, calling it a “direct assault on a basic human right – the freedom of expression of everyone.” The statement called on French authorities to respect Telegram’s “right to protect the freedom of expression, privacy of its users, and right to private life.”We’re launching text message alerts so you'll always know the biggest stories shaping the day’s headlines. Text “Alerts” toAside from TON, which shares strong links with Telegram and Durov, the wider crypto industry has rallied to support the Russian-born billionaire.

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