Telegram-linked token Toncoin sheds $2.7 Billion after CEO detained

Big trouble hit the world of messaging apps and cryptocurrency this weekend. Pavel Durov, the person behind Telegram, was held by police in Paris. This prompted a number of fears for folks who use a cryptocurrency linked to Telegram. Let’s recap what happened.

Telegram Boss in Hot Water

Pavel Durov, who created Telegram, was stopped at a Paris airport on Saturday. Police assume he did not do enough to stop criminals from using his app. This is a massive deal because Telegram is known for letting human beings talk freely, which some love and others worry about.

Crypto Coin Takes a Hit

There’s a cryptocurrency known as Toncoin that works with Telegram. When crypto buyers heard about Durov’s problem, they got scared. Toncoin’s fee dropped a lot—it lost about $2.7 billion! This shows how closely humans connect Toncoin with Telegram despite the fact that they may be imagined to be separate.

What Happens Next?

Right now, we are all waiting to see what happens. Telegram says they follow the guidelines in Europe and that Durov has nothing to hide. But this could cause problems for their plans to add such things as payments and games to the app.

Some massive investors are involved, too. They put money into Toncoin because they think it can help make Telegram into a first-rate, popular app in China that does everything.

People who like Telegram are showing their support for Durov online. They’re using hashtags like #FreePavel and converting their profile pictures to show they care.

This complete situation shows how one man or woman’s trouble can affect many humans and cash in the world of apps and crypto. Everyone’s looking forward to what’s going to happen next with Telegram and Toncoin.

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