Cryptocurrency News Today TheBitTimes.com

Telegram’s native crypto coin, Toncoin (TON), experienced a significant dropoff over the weekend in price, falling 17%. The arrest of Telegram’s CEO and founder Pavel Durov in France is the most likely catalyst. Durov was detained as he stepped off his private jet at Le Bourget airport in France on Saturday. Durov’s arrest significantly impacted the price of Toncoin, which is now trading at $5.54. The French authorities dubbed the OFIM, issued the warranty against Durov. The OFIM sectoral unit deals with handling cases related to violence against minors. French authorities allege that Telegram’s lack of moderation, poor cooperation with law enforcement, and the tools it offers (like disposable numbers and cryptocurrencies) make Durov complicit in drug trafficking, child exploitation crimes, and fraud. Source: Medium/Redficrypto Before the Telegram founder’s arrest, Toncoin had been on a hot streak in terms of growth. The asset was on a path to a $50 billion market cap...

The Open Network project found itself on a new wave of popularity after the launch of a wallet on Telegram. However, the project’s long and difficult path to success is often overlooked. Since 2020, a fully decentralized Layer 1 blockchain has been developing thanks to a non-profit group of supporters and an independent community of enthusiasts who called themselves the TON Foundation. History of TON The Open Network was created by the Telegram team, and the Gram coin was to become the native token. In 2018, the team began collecting applications for participation in the ICO quite successfully. In the first round alone, the ICO volume reached almost $3 billion. The following year, the TON testnet, a network browser, was launched, and the code for a full node appeared. The launch of the main network was planned no later than November 2019. And it would have happened if the U.S. Securities Commission (SEC) had not intervened. Since investors from the United States took part i...