Pavel Durov's Bold Move Sparks Toncoin’s Massive 24-Hour Gain!

[Cryptowarrior]

Bitcoin (BTC) fell below $56,000 early Friday and continued its downward trend throughout the week.

Altcoins Struggle

Popular altcoins, including Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC), all experienced declines. The Market Fear & Greed Index was at 30 (Fear) out of 100.

Toncoin and MultiversX Highlights

• Toncoin (TON) emerged as a top performer, rising nearly 5% in 24 hours.
• MultiversX (EGLD) was the biggest loser, with a drop of over 8%.

Market Snapshot

The global cryptocurrency market cap stood at $1.95 trillion, reflecting a 2.58% drop in 24 hours.

Durov's Criticism of French Authorities

Security Commitment

Telegram CEO Pavel Durov criticized French authorities after being detained in Paris. He promised to enhance Telegram's security.

Durov faced a four-day interrogation by Paris police over alleged platform misuse but rejected these claims. He pledged to address security concerns and improve the platform.

Response to French Authorities

Durov expressed surprise at the French authorities' actions, noting that Telegram’s EU representative and public email were available. He criticized the accountability measures, arguing they were unfairly targeted at the CEO.

Toncoin’s Price Surge

Significant Increase

Toncoin’s price surged over 5% to $4.70 following Durov’s statement, despite a broader market decline where Bitcoin and other major cryptocurrencies fell nearly 3%.

FBI Rumor Clarification

Reports claiming the FBI had placed Durov on its wanted list were debunked. Community notes confirmed no official statements from the FBI.

The situation reflects ongoing tensions between global regulators and the cryptocurrency sector.

Edited September 6 by Cryptowarrior