Telegram CEO Pavel Durov Under Formal Investigation for Alleged Criminal Activities - Investing.com
Investing.com's top financial market journalist reports that Pavel Durov, the CEO of Telegram, is under formal investigation in France for suspicions of complicity in illegal transactions, child sexual abuse material, and drug trafficking. This news has shocked the financial world and could have major implications for investors.
Durov's lawyer has condemned the investigation as "totally absurd," stating that Telegram complies fully with European digital regulations. However, the investigation is ongoing, and Durov could potentially face serious consequences if found guilty.
Despite the investigation, experts believe that Telegram's TON blockchain network, which supports hundreds of apps and protocols, will continue to thrive. The network cannot be shut down and has a strong value proposition in the crypto world.
French President Emmanuel Macron, a user of Telegram, has stated that the investigation is a judicial matter and not politically motivated. Macron, who has met with Durov in the past, granted the CEO French citizenship in 2021 through a rare procedure.
As a result of the investigation, the cryptocurrency Toncoin, associated with Telegram's ecosystem, has dropped by about 20%. This could be a sign of market uncertainty surrounding the company.
In conclusion, investors should closely monitor the developments in the investigation against Pavel Durov and consider the potential impact on Telegram's operations and the crypto market as a whole. It's essential to stay informed and make informed decisions to protect your finances in these uncertain times.