Data: The market value of TON tokens evaporated by 2.7 billion dollars after the arrest of the Telegram CEO

2024-08-26 11:10:56

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ChainCatcher news, according to Bloomberg, the market value of digital assets related to the blockchain project associated with Telegram Messenger LLP has shrunk by approximately $2.7 billion, reflecting the uncertainty triggered by the detention of Telegram co-founder Pavel Durov. It was reported that Pavel Durov was detained at Paris airport on Saturday for allegedly failing to take measures to prevent Telegram from being exploited by criminals. Subsequently, the token of The Open Network, Toncoin (TON), fell by more than 20%.

According to data compiled by Bloomberg, as of 10:36 AM Singapore time on Monday, TON had narrowed some of its losses, trading at $5.69, but due to the ongoing fallout from the Durov incident, the asset was still down 16%. Richard Galvin, co-founder of the hedge fund DACM, stated that it is still "too early" to determine what long-term impact Durov's detention will have on Telegram. The fund purchased TON tokens in a private round earlier in 2023. He added that the market reaction over the weekend "temporarily priced in this uncertainty into the TON price."

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Tracking the Arrest of the Telegram Founder

The founder and CEO of the encrypted messaging app Telegram was arrested at a French airport this Saturday evening. Opinions from various parties are mixed, and how the situation will develop remains to be seen. This topic will continue to follow the subsequent developments of the event.

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