Blockchain quotes for TON have plunged by 19% in reaction to the news of Telegram founder and CEO Pavel Durov’s arrest in France.
The X account for The Open Network (TON) confirmed Durov’s arrest.
“Due to recent news involving Telegram founder Pavel Durov, we want to assure everyone that the TON community remains strong and fully operational. As a community committed to free speech and decentralization, we stand firmly with Pavel during this challenging time,” stated the TON X account.
Durov was detained on Saturday at Paris’s Le Bourget Airport, where he arrived from Azerbaijan. Support for Durov has been voiced by American journalist Tucker Carlson and X platform owner Elon Musk.
Franklin Bi, General Partner at venture capital fund Pantera Capital, posted a simple message: “#FreePavel”. This year, Pantera made its largest investment in the history of the company, which was founded in 2003, in TON tokens, and subsequently raised more capital to invest in the ecosystem, as reported by The Block.
While Durov is believed to have no direct involvement with the TON blockchain, his influence on the network is significant. Community representatives have issued a statement in support of Pavel Durov, affirming that the blockchain remains fully operational.
The decline in TON’s value was rapid. Although it has currently slowed, a resumption of sharp downward movement may occur following the formal charges filed by the French prosecution on August 28.