Pavel Durov, CEO of Telegram, has finally commented on his recent arrest in France, ending days of speculation.
His statement not only clarified the situation but also triggered a 5% rise in the price of TON (The Open Network), a blockchain linked to Telegram. Let’s dive into Durov’s remarks and how they impacted TON’s market performance.
Pavel Durov Addresses His Arrest in France
After staying silent for several days, Pavel Durov took to social media to discuss his arrest in France. He explained that he had been interrogated for four days by French authorities, who suggested that he could be personally responsible for illegal activities carried out by Telegram users.
According to Durov, the French police cited a lack of responses from Telegram to their inquiries, which had prompted his detention.
Durov expressed his surprise at the arrest, explaining that Telegram has an official EU representative responsible for handling such legal requests. This representative’s contact details are publicly available, making it unclear why the French authorities hadn’t contacted them.
Durov also noted that as a French citizen, he had been in regular contact with the French consulate in Dubai, where he had previously assisted with setting up a hotline to help counter-terrorism in France.
In his detailed statement, Durov discussed the broader challenge of balancing privacy and security on a global scale. He argued that holding a CEO personally accountable for crimes committed on their platform is both unfair and impractical.
Building new technologies, according to Durov, becomes nearly impossible if innovators fear personal legal consequences for misuse of their platforms.
Durov’s firm commitment to user privacy and Telegram’s principles were central themes in his response. He reiterated that Telegram has always been prepared to leave countries that demand compromising their values, citing previous bans in Russia and Iran as examples.
When those governments demanded encryption keys and censorship, Telegram refused, resulting in the platform being banned in both nations.
Acknowledging Telegram’s rapid growth to 950 million users, Durov admitted that this expansion has made moderation more challenging, with the platform struggling to keep up with harmful content.
However, he reassured users that improving these processes was his top priority. He promised that changes were already being implemented and pledged to share further updates soon.
Despite these challenges, Durov remained optimistic about the future of Telegram and the social networking industry as a whole.
He expressed gratitude for the support he had received and highlighted the company’s ongoing commitment to transparency, pointing out that they already take down millions of harmful posts and publish daily transparency reports.
TON’s Price Jumps 5% After Durov’s Statement
Pavel Durov’s open and honest communication had an immediate effect on the market, with the price of TON (The Open Network) surging by 5% shortly after his statement.
This increase underscores the strong connection between Durov’s leadership and investor confidence in both Telegram and its related blockchain project.
TON, which began as Telegram’s blockchain initiative before being handed over to an open-source community, has always been closely tied to Durov and his vision.
Investors, seeing Durov’s clear stance and commitment to the platform, responded positively to his comments. The transparency and reassurance offered in his message likely boosted confidence in the platform’s future, encouraging a rally in TON’s price.
The 5% rise in TON’s value reflects a growing sentiment that Telegram will overcome its current legal challenges without suffering long-term damage.
Investors appear to believe that Durov’s leadership and dedication to resolving these issues will keep Telegram on the right path, both as a messaging platform and as a blockchain innovator.
Market experts suggest that the price increase could also be linked to Durov’s firm stance on privacy. His refusal to compromise Telegram’s principles, even in the face of pressure from authorities, likely resonated with both users and investors.
At the time of his statement, TON saw an 8% increase from yesterday’s low to today’s high, signalling a renewed sense of optimism among investors.
As Durov continues to navigate these complex legal waters, his actions and public statements will undoubtedly play a critical role in determining the future trajectory of TON and the broader Telegram ecosystem.
Conclusion
Pavel Durov’s comments on his arrest in France have had a notable impact, not only providing clarity on the situation but also boosting investor confidence in TON.
The blockchain’s price increased by 5% following Durov’s heartfelt explanation and his commitment to addressing Telegram’s moderation challenges.
His firm stance on privacy and refusal to compromise the platform’s principles has further solidified his reputation as a leader who prioritises user rights over compliance with oppressive regulations.
