Telegram creator arrested on terrorism and money laundering charges, impacting TON price and value

From Investing.com

August 25, 2024 12:30 PM:

39-year-old entrepreneur Pavel Durov, creator of Telegram, was arrested on charges including terrorism and money laundering. He faces up to 20 years in prison.

Telegram’s native token TON dropped 15% in price and 61.3% in total value locked in the blockchain post-Durov’s arrest.

Max Keiser, known for maximalist views on BTC, emphasized that Bitcoin remains the only truly secure cryptocurrency, unlike other altcoins susceptible to legal issues. Satoshi Nakamoto’s anonymity protects Bitcoin.

The anonymous Bitcoin founder’s anonymity may have saved BTC in light of Durov’s arrest. Concerns arise that if Durov’s case is successful, Bitcoin could be targeted next.

Some believe if Telegram falls, Bitcoin may follow, despite no direct connection. Skeptics fear a government crackdown on cryptocurrencies after Durov’s arrest.

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