As a seasoned crypto investor with a keen interest in the intersection of technology and freedom of speech, I find myself standing in solidarity with Pavel Durov, the embattled founder of Telegram, who was recently detained in France. His arrest has sparked outrage within the crypto community, as many view it as an attempt to pressure him into censoring Telegram on behalf of the government.
Andrei Grachev, the leading partner at Web3 market maker DWF Labs, has invested $500,000 in Toncoin as a show of support for Telegram founder Pavel Durov, who was recently detained in France. Grachev shared his decision on platform X (formerly Twitter), stating that this move was his means of standing with Durov during these difficult circumstances.
I, as a crypto investor, have added my voice to the chorus of influential figures in the cryptosphere advocating for Pavel Durov’s release via the #FreePavel hashtag. During a recent broadcast, I expressed my belief that investing in Toncoin serves not just as an investment, but also as a vote of confidence in the TON ecosystem and the broader principles of decentralized and censorship-resistant technology.
It’s worth noting that Grachev purchased the company’s shares prior to a 20% decline in value following Durov’s arrest. The token plummeted to $5.249 due to mass selling triggered by panic, resulting in a 24-hour trading volume surge of 892% to $2.48 billion. Since then, the asset has rebounded and the stock now stands at $5.864, primarily due to strategic decisions like acquisitions.
Crypto Community Rallies Behind Durov, Calls Arrest an Attack on Free Speech
As a researcher examining this situation, I’ve noticed a significant show of support within the cryptocurrency community for Durov. The rationale appears to be that his arrest could be an attempt to coerce him into censorship of Telegram on behalf of the government. Remarkably, even the representative of the well-known game Hamster Kombat on Telegram has joined the chorus, advocating for Durov’s release. This call is rooted in the concern that such an action would infringe upon the freedom of speech.
In their official statement, the TON Blockchain voiced their backing for Durov, emphasizing their commitment to principles such as decentralization and free expression. They confirmed that all their operations remain active in the current scenario, urging the community to stand resilient.
Generally speaking, the crypto community has been quite encouraging towards Durov as he navigates his quest for internet autonomy. Yet, there are voices expressing reservations about the decentralization of TON, since a few significant investors control the majority of the tokens.
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2024-08-27 00:15