Loading...
Telegram, a widely popular messaging app, hosts a monthly user base of around 1 billion people. Recently, the French authorities have arrested the app's co-founder, Pavel Durov, which has also impacted the swiftly expanding TON Coin and its associated ecosystem. In response, the CEO of Tether has emphasized the need to defend against such actions.
Countries in the US and EU have certain demands for privileges from all major apps. Only a select few of the 208 countries worldwide can access these privileges. For instance, the requirement to share user data when deemed necessary is one such privilege that profoundly affects freedom of expression.
For example, the EU might view cyber attacks on state institutions in country X as an expression of freedom. Yet, any criminal activity attempted within an EU country requires access to the perpetrator's information.
A comparable situation arose with the Tornado Cash mixer case. Its co-founder, Alexey Pertsev, was sentenced to 64 months in prison because criminals use crypto mixers. However, it’s important to note that some individuals use the same platform out of concern for data privacy, much like not all of Telegram's 1 billion users are involved in criminal activities.
Tether CEO and figures like Elon Musk condemned France’s actions. Tether CEO Paolo Ardoino wrote:
Pavel Durov’s arrest for ensuring freedom of expression through Telegram is very concerning. If we lose the fight to defend freedom of expression and communication as a society, nothing else will matter, and the dark ages will be our future.
Recently, a market maker for TON Coin offloaded nearly $2 million worth of assets within 4 hours, causing a dip in its price. Yesterday, the price of TON Coin surged to $5.25, a level not seen since the week of the market crash. Currently, the price is hovering around $5.63.
The primary concern for TON Coin is the potential risk of sanctions that Telegram could encounter. Once more clarity on this situation, it will become evident how much TON Coin will be impacted, and price volatility is expected to persist.
editor
A web 3 girl living in a web 2 world.