Whereas the crypto markets continued to take a beating over the weekend, one coin is definitely gaining floor. TON, which is related to messaging app Bitcoin stayed flat.
“As you may have heard, I’ve returned to Dubai after spending several months in France due to an investigation related to the activity of criminals on Telegram,” Durov wrote on Telegram. “The process is ongoing, it feels great to be home.”
Durov will likely be required to return to France by Apr. 7.
Telegram started to develop TON—also called The Open Community—in 2017, to permit its quickly rising person base to rapidly course of transactions within the app utilizing blockchain expertise. It’s now an integral a part of the platform, used to pay for video games, ads and transaction charges. It has amassed a market cap of over $8 billion.
Telegram and alleged felony actions
Durov had been banned from leaving France since August after he was arrested close to Paris final 12 months.
Telegram has attracted practically one billion world customers because it was based in 2013 by way of its emphasis on privateness and safety. It was the corporate’s coverage to not adjust to authorities requests for person data till September when Durov reversed this coverage within the wake of his arrest. French authorities say the app has been used for the distribution of kid sexual abuse materials, drug trafficking, fraud and different felony actions.
Telegram beforehand mentioned it was “absurd” to carry Durov accountable for felony actions that happen on Telegram in a X put up following his arrest. “It is absurd to claim that a platform or its owner are responsible for abuse of that platform,” the corporate wrote, including that its moderation practices are “within industry standards and constantly improving.” The corporate didn’t instantly reply to Fortune‘s request for remark.
Durov’s arrest prompted backlash from the likes of Ethereum founder Vitalik Buterin and U.S. whistleblower Edward Snowden, who mentioned the transfer was a politically-motivated assault on freedom of speech.
Durov has maintained his innocence all through the investigation, writing on Telegram on Monday: “When it comes to moderation, cooperation, and fighting crime, for years Telegram not only met but exceeded its legal obligations.”
This story was initially featured on Fortune.com
