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## Telegram’s Chief Executive Officer Obtains French Identification, TON Digital Currency Value Rises by 20%
* Amidst a legal inquiry, the Telegram CEO obtained travel papers, enabling him to exit France.
* Toncoin saw a considerable increase of 20% subsequent to the report of Durov’s short-term exit.
According to AFP, French officials have given Telegram’s creator and chief executive officer, Pavel Durov, authorization to briefly depart France, alleviating limitations amidst a continuous legal inquiry.
Supposedly, Durov left for Dubai on Saturday morning following an examining magistrate approved his request to journey for several weeks.
Following the report of Durov’s travel authorization, Toncoin, the platform’s inherent virtual currency, rose almost 20% within 24 hours, attaining $3.50 and driving its market capitalization past $8.5 billion. This increase mirrors investor assurance in the platform’s prospect, despite the judicial obstacles.
Durov was initially detained at a Paris airport in August 2024 and formally investigated on six initial charges, including claims that Telegram aided unlawful actions such as narcotics trafficking, money washing, and the circulation of child sexual abuse content.
French attorneys assert that Telegram has been uncooperative in endeavors to control these actions.
In reaction to escalating judicial stress, Telegram has augmented its moderation endeavors, broadening its crew of moderators to over 750 contractors and modernizing its terms of service to prohibit unlawful content.
However, Durov has strongly condemned the case, contending that regulations from “before the smartphone period” should not be utilized to hold platform executives criminally accountable for user-generated content. He asserts that Telegram is devoted to combating unlawful actions while safeguarding user privacy.
The platform accomplished profitability for the first time in 2024, exceeding $1 billion in income, with its premium subscription user base tripling to 12 million.
Virtual currencies play a considerable role in its income model, with Telegram vending hundreds of millions of dollars worth of virtual currencies, including Toncoin. This move has further incorporated virtual currency into Telegram’s ecosystem, enhancing its appeal to crypto aficionados.
## **Virtual Currency Market Mechanics**
Over the past day, Bitcoin has noticed a small surge of 0.5%, pushing its market value to $84,200. Ethereum also underwent a comparable rise, climbing by 0.2% to $1,920.
Here’s what’s grabbing attention currently:
* **DL News:** Arthur Hayes forecasts Bitcoin will hit its lowest point before the equity market, then soar to $250,000, because “they always generate funds.”
* **Milk Road:** Are we nearing a downturn?
* **Unchained:** Owing to the crypto market’s difficulties, tokenized treasuries are expanding 20x quicker than stablecoins.
* **DL News:** The competition to turn into Canada’s subsequent Prime Minister is developing into a conflict between Bitcoin supporters and virtual currency enthusiasts.
