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Home»ALTCOIN NEWS»Toncoin bounces back as Telegram founder chooses to play ball
ALTCOIN NEWS

Toncoin bounces back as Telegram founder chooses to play ball

By Crypto FlexsSeptember 8, 20244 Mins Read
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Toncoin bounces back as Telegram founder chooses to play ball
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  • telegram‘S founder was detained fly ~ in Cybercrime charges.
  • The arrest was triggered controversy ~ on top Right to privacy and Abuse of government power.
  • Pavel Durov now promiseS cooperation With ~ authoritiesBoosting Toncoin‘S price.

Telegram’s rapid growth has largely been attributed to its positioning as a messaging app essential for free speech. But that commitment was challenged last month when founder Pavel Durov was arrested in Paris on cybercrime charges, including failing to cooperate with law enforcement. The arrest has sparked a heated debate about digital freedom, with some seeing it as yet another example of government abuse of power.

After Durov’s arrest, Telegram’s native cryptocurrency, Toncoin, plummeted due to uncertainty about the project’s future. However, nearly two weeks after the incident, Durov made a public statement about the situation, which led to a rebound in the Toncoin price.

Durov devotes himself to organizing Telegram

In his first public statement since his arrest, Durov said he was shocked that Telegram users were being held personally responsible for their illegal actions, and that it was “wrong” to hold tech innovators personally accountable for their users’ actions.

The founder also refuted claims that he was not cooperating with authorities, stressing that Telegram has an official EU representative who handles law enforcement requests and a dedicated hotline for terrorist threats.

Durov emphasized Telegram’s commitment to user privacy, citing the company’s decision to withdraw from the market rather than compromise its principles. Notable examples include leaving Russia over a request for encryption keys and Iran over a request to block channels used by political protesters.

But Durov acknowledged that criminals were “abusing our platform,” which he blamed on the company’s rapid growth. He promised to strengthen the platform’s security measures.

Mixed reactions to Durov

Durov’s pledge to tackle illegal activity on Telegram has been met with mixed reactions, with some questioning whether Telegram can maintain its reputation as a free speech advocate after Durov’s apparent transformation. For example, X user Ant A expressed concern that Durov “had to sell to get free.”

Likewise, “db” noted a change in Telegram’s policy, noting that the statement regarding user privacy in response to requests for information from authorities has been removed.

We’ve quietly updated our FAQ on Telegram and removed the following:

“All Telegram chats and group chats are private between participants. We do not process requests related to this.” pic.twitter.com/ajWOOBAAB5

— db (@tier10k) September 6, 2024

Despite concerns about Telegram’s free speech policy, some users remained optimistic. This optimism was reflected in the Toncoin rally, indicating relief in the market that the immediate crisis had passed.

Toncoin Rally

In response to Durov’s statement, Toncoin rebounded 9% to an intraday high of $4.910 after hitting a local bottom of $4.525 on Thursday. The cryptocurrency closed the day slightly lower at $4.807.

TONUSDT daily chart on Trading View

On Friday, Toncoin retested the $4.910 resistance level but found support at $4.769 in the face of a pullback. This price action occurred amidst widespread uncertainty in the cryptocurrency market, which was influenced by macroeconomic factors.

On the other side

  • Kim dot com Infer That Durov‘s arrest “Deep State“Play to control telegram.
  • The case is presented as follows: question In the long run viability Truly decentralized seclusion– Focus platform.
  • telegram Didn’t leave French market.

Why this matters

The Telegram saga highlights the conflict between individual freedom and compliance with the law, showing how uncontrolled privacy can lead to illegal activity.

South Korean authorities have launched an investigation into Telegram.
Telegram’s Problems Worse as South Korea Joins Crackdown

Cardano’s Nike Memecoin is on the rise amid a market downturn.
Cardano Mimecoin Nike Pumps 130% for LOLs

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