According to recent reports, Pavel Durov is finally released by the French authorities after four days in custody. However, he won’t be leaving France anytime soon, with prosecutors imposing certain restrictions despite his release. Notably, a formal investigation is underway, which has fueled speculations in the global market.
Pavel Durov Released By French Authorities
The recent release of Pavel Durov has gained notable traction on a global scale. However, despite his freedom, the Telegram CEO will remain under strict conditions imposed by the French prosecutors. According to a recent report, the Russian-born tech mogul is not allowed to leave the territory of France and will remain under judicial supervision.
In addition, he must pay a €5 million bail and report to the police twice weekly. The restrictions come as part of an ongoing investigation into alleged organized crime related to his messaging app.
Meanwhile, the news has taken the global market by storm, given the immense support he has received on a global scale. Notably, “#FREEDUROV” was one of the most-used hashtags on social media platforms following the detention of the Telegram CEO. High-profile figures like Elon Musk and Robert F. Kennedy Jr. voiced their disapproval of the arrest, calling it a crackdown on free speech.
However, despite Durov’s release as a relief for his supporters, the restrictions set by French authorities indicate that the legal battle is far from over. According to reports from the Paris Prosecutor’s office, Durov’s formal investigation does not imply guilt but suggests that there is sufficient cause to continue probing the case.
In other words, the legal frameworks could allow the probe to continue for a longer period without necessarily leading to a trial. It adds a layer of uncertainty to the situation for the CEO. This move has raised questions over the future of the messaging app as well as on the balance between privacy and freedom of speech.
Toncoin Price Remains Flat Amid Hovering Legal Uncertainties
The release of Pavel Durov under judicial supervision highlights the ongoing tension between social media platforms and government authorities. However, despite the news, Toncoin’s price remained near the flatline at $5.46, with its trading volume soaring over 93% to $1.47 billion. Notably, the Toncoin price fell to as low as $5.09 this week, following the CEO’s detention in France.
The flat trading also reflects the investors’ caution amid the ongoing legal uncertainties. Besides, the case has also shined a spotlight on the complex relationship between technology firms and regulatory authorities. Notably, the Telegram CEO now faces a separate investigation in France for alleged “serious acts of violence” against one of his children.
Rupam Roy
Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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