Pavel Durov, the founder of Telegram, who has been detained in France since last August, has been granted temporary authorization to leave the country for Dubai.
The news was initially reported on Saturday, leading to a swift reaction from the cryptocurrency market.
Toncoin (TON), the digital asset associated with Telegram’s Telegram Open Network (TON), experienced a significant spike in trading volume, rising by over 15% in response to the announcement.
The TON token, currently priced at $3.34, plays a crucial role in Telegram’s blockchain ventures.
Additionally, Notcoin (NOT), a token tied to a popular tap-to-earn app on the platform, also saw a boost, climbing over 12.7% at the time of this report.
Durov, a wealthy Russian expatriate who established the widely-used messaging application Telegram in 2013, is facing multiple allegations related to purportedly facilitating organized crime.
As reported, authorities permitted Durov to travel to Dubai following a ruling by an investigating judge who approved his request to alter his supervision conditions a few days prior.
Durov, 40, is under scrutiny for various infractions, with accusations involving terrorism, drug trafficking, fraud, money laundering, and inappropriate content on the Telegram platform.
He was initially taken into custody in August after his indictment, which resulted in a prohibition against leaving the country.
In September, Durov addressed these legal issues in a statement through his official Telegram channel. He expressed disbelief at the charges and criticized French authorities for not going through appropriate channels to communicate with Telegram’s EU representative before questioning him directly. He argued that holding a CEO accountable for the actions of others on a platform—particularly one that predates the smartphone era—was a “misguided approach.”
In his comments, Durov defended Telegram’s moderation policy, emphasizing the platform’s daily efforts to eliminate harmful content and its established partnerships with NGOs for expedited requests. Despite facing legal challenges, he reiterated his dedication to maintaining the safety and security of Telegram’s expansive user base, which is nearing one billion users.
As the investigation progresses, Durov’s legal struggles are expected to garner substantial attention, particularly as Telegram’s cryptocurrency initiatives continue to grow.
Whether these recent legal changes will impact Telegram’s operations or the value of its associated tokens in the long run remains uncertain.