Why Is Toncoin Price Surging Despite a Market Downturn?
Telegram CEO Pavel Durov recently spoke out about his detention in Paris, criticizing the French authorities' rationale and pledging to enhance the platform's safety. His remarks led to a notable increase in the price of Toncoin(https://coinpedia.org/price-prediction/toncoin-ton-price-prediction)
Durov Breaks Silence
Pavel Durov addressed the public following his controversial detention in France, which had drawn significant criticism from the crypto community. In a Telegram post, Durov revealed that he had been interrogated by Paris police for four days. The authorities accused him of being responsible for misuse of the platform by others. Durov dismissed these claims and committed to improving Telegram's overall security.
Durov explained, "Telegram's rapid growth to 950 million users has led to challenges that have made it easier for criminals to exploit the platform. I have made it a personal mission to address these issues and improve our system. We have already begun this process internally, and I will provide updates on our progress soon."
Criticism of French Authorities
Durov expressed surprise at the French authorities' actions, noting that Telegram has a designated representative in the EU and a public email address for such matters. He also highlighted that he had been a guest at the French consulate in Dubai, suggesting that the authorities had other means to contact him. Durov criticized the authorities' approach, arguing that holding the CEO accountable for third-party actions on the platform was misguided.
Toncoin Price Surge
Following Durov's statement, Toncoin experienced a significant price increase. The cryptocurrency's value surged by over 5% to $4.70, despite the broader crypto market's downturn. Bitcoin and other major cryptocurrencies had fallen by nearly 3% in the past 24 hours.
FBI Rumors Debunked
Amid these developments, reports surfaced claiming that the Federal Bureau of Investigation (FBI) had placed Durov on its wanted list. However, these reports were quickly debunked by community notes on X, which found no official FBI statements regarding Durov.
The situation continues to unfold, with Durov’s statements and the market's reaction highlighting the ongoing tension between global regulatory bodies and the rapidly evolving world of cryptocurrency.