Hey guys,
Over the past few days, a lot has been happening in the crypto world. Many of us, if not all, are patiently waiting for August to end and September to begin—or end as well? Personally, I'm looking forward to the second half of the month, mainly because interest rates are finally expected to be cut. This will likely make the market even more risk-on, which means more money flowing everywhere.
https://duet-cdn.vox-cdn.com/thumbor/0x0:2040x1334/640x640/filters:focal(1020x667:1021x668):format(webp)/cdn.vox-cdn.com/uploads/chorus_asset/file/25589995/STK207_STK085__PAVEL_DUROV_TELEGRAM_B.jpg
One of the most interesting things that happened recently was the arrest of Telegram's Founder and CEO, Pavel Durov, in Paris by the French authorities. The reasons for his arrest include a long list of alleged crimes, such as aiding terrorist activities, money laundering, etc. As we all know, the real reason behind this arrest is that Pavel Durov refused to cooperate with the US and European authorities. Telegram is an app that uses encrypted messages, making it a preferred platform for terrorists and criminals because it’s harder to track them. However, this isn’t the main concern for the US. Their real issue is that Telegram is widely used by the Russian army and Russian militant groups involved in the Ukrainian war, and even government agents might use it. The US government has been requesting Telegram's cooperation for a long time to help them track users involved in money laundering or terrorism, but Durov has consistently refused, aiming to make Telegram a safe space for everyone. Unlike platforms like Messenger, WhatsApp, etc., which are essentially controlled by authorities and accessible whenever they want, Durov wanted something free from such control—even from himself, as not even the employees of the company have access to the messages. From what I’ve read, Durov was not on good terms with Putin either, as he also wanted control over Telegram's data, which is why Durov was living in Dubai.
The silver lining in all of this is that people might lose faith in traditional methods of communication and the censorship that governments can impose on such platforms. This could lead them to learn more about how blockchain can be leveraged to create censorship-resistant apps and communication methods, where only you and your intended recipients have access to the messages.
This whole ordeal has impacted the TON coin and other projects built on the TON network. However, despite everything, the drop wasn’t that significant.
A 25% drop in a coin, considering the CEO of the platform it’s based on was arrested, isn’t that bad—especially with BTC dropping at the same time. For now, TON is showing strength, but I’m not pleased with the volume after the drop. I’ll keep an eye on it, and if I like what I see in the coming days, I might buy the dip.
Posted Using InLeo Alpha
