Pavel Durov, the CEO of Telegram, has been released from French detention. He is still subject to judicial supervision and must pay €5 million in bail.
According to recent reports, Pavel Durov was eventually released by the French authorities after four days in custody. Nevertheless, prosecutors have implemented specific constraints, preventing him from departing France shortly despite his release. It is important to note that a formal investigation is underway, which has sparked speculation in the global market.
Pavel Durov Freed by French authorities
Pavel Durov’s most recent release has garnered substantial global attention. Nevertheless, despite his freedom, the Telegram CEO will continue to be subject to stringent restrictions imposed by French prosecutors. According to a recent report, the Russian-born tech magnate is prohibited from departing France and will continue to be subject to judicial oversight.
Additionally, he is required to submit police reports twice a week and pay a €5 million surety. The limitations result from an ongoing investigation into alleged organized crime associated with his messaging application.
In the interim, the news has caused a significant stir in the global market due to the widespread support he has received. Following the detention of the Telegram CEO, “#FREEDUROV” was one of the most frequently used hashtags on social media platforms. The detention was called a crackdown on free speech by high-profile figures such as Elon Musk and Robert F. Kennedy Jr., who expressed their disapproval.
Nevertheless, the French authorities’ restrictions on Pavel Durov’s behavior suggest that the legal dispute is far from resolved, despite his release as a consolation for his supporters. Durov’s formal investigation, as reported by the Paris Prosecutor’s office, does not necessarily indicate guilt; rather, it indicates sufficient justification to continue investigating the matter.
In other words, the legal frameworks may permit the investigation to persist for an extended period without culminating in a trial. It introduces an additional dimension of uncertainty to the CEO’s situation. This action has prompted inquiries regarding the messaging app’s future and the equilibrium between freedom of speech and privacy.
The price of Ton coin has remained constant in the face of lingering legal uncertainties
The ongoing tension between government authorities and social media platforms is underscored by Pavel Durov’s release under judicial supervision. Nevertheless, Toncoin’s trading volume increased by over 93% to $1.47 billion, while its price remained at $5.46, close to the flatline, despite the news. In response to the CEO’s detention in France, the Toncoin price plummeted to as low as $5.09 this week. This is particularly noteworthy.
The investors’ caution in the face of the ongoing legal uncertainties is also evident in the lackluster trading. In addition, the case has also illuminated the intricate relationship between regulatory authorities and technology firms. It is important to note that the Telegram CEO is currently under investigation in France for alleged “serious acts of violence” against one of his daughters.
