Telegram founder Pavel Durov, who has been detained in France since August, has received temporary permission to leave the country and travel to Dubai.
This development, first reported on Saturday, sent the cryptocurrency market into a frenzy.
The digital token Toncoin (TON), which is associated with Telegram’s Telegram Open Network (TON), experienced a significant trading volume increase of over 15% following the news.
The TON token, currently priced at $3.34, plays a vital role in Telegram’s blockchain initiatives.
Additionally, Notcoin (NOT), a token linked to a popular tap-to-earn mini-app on the platform, saw a rise of more than 12.7% at the time of reporting.
Durov, a billionaire and founder of the widely-used messaging app Telegram, faces numerous charges related to allegedly enabling organized crime.
Authorities reported that Durov was permitted to travel to Dubai after an investigating judge accepted his request to modify his supervision conditions.
Facing accusations involving terrorism, drug trafficking, fraud, money laundering, and child abuse content on the platform, Durov was initially arrested in August, which led to restrictions on his travel.
In response to his legal troubles, Durov issued a statement in September criticizing French authorities for engaging directly with him instead of following proper communication channels with Telegram’s EU representative. He described the accountability placed on a CEO for actions attributed to others on a platform, particularly one predating smart technology, as a “misguided approach.”
Furthermore, Durov defended Telegram’s content moderation efforts, emphasizing the platform’s commitment to swiftly removing harmful content and collaborating with NGOs for urgent matters. Despite ongoing legal challenges, he reaffirmed his dedication to maintaining the safety and security of Telegram’s nearly one billion users.
As the investigation proceeds, Durov’s legal situation will likely attract considerable attention, particularly as Telegram explores further cryptocurrency ventures.
The potential long-term impacts of these legal developments on Telegram’s operations or the value of its associated tokens remain uncertain.
