Telo News - Crypto | DeFi | Web3

26 Aug 2024 11:19

Pavel Durov is currently detained in Paris, France, for a preliminary investigation. Although he has not officially been charged, his detention is set for 96 hours, after which a judge must determine his status.

Here's more insight into the legality of his detention.

⚫ Garde à vue (Article 63 to 77)
French law allows detainment of 24 hours even without formal charges with possibility of extension for up to 144 hours.

⚫ Warrant of Arrest
Issued by the OFMIN under the National Directorate of the Judicial Police (DNPJ), under the umbrella of the French Ministry of Justice. The warrant is only valid if Durov sets foot in France.

⚫ Citizenship
Durov was gifted a French citizenship possibly under the "distinguished foreigner" process in 2021-2022, subjecting him to French law.

⚫ Moments Before the Arrest
The Telegram founder's jet flew from Baku, Azerbaijan, and landed at the French airport around 7:30-8:00 PM local time. Local reports say he knew he was wanted but chose to land anyway. Others suggest either French authorities directed his flight to land in its territory despite an attempt to fly south or that the jet lacked fuel to leave.

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26 Aug 2024 05:09

Telegram has officially addressed founder Pavel Durov’s detention in France with a statement saying that Telegram abides by EU laws, including the Digital Services Act.

Telegram highlighted, “It is absurd to claim that a platform or its owner is responsible for abuse of that platform.’ Durov, who frequently travels across Europe, has expressed transparency in Telegram’s operations."

French authorities are scheduled to issue a statement on the detention of Durov on Monday, August 26.

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25 Aug 2024 09:50

In response to Pavel Durov’s arrest, Ethereum’s Vitalik Buterin commented:

“Ive criticized Telegram before for not being serious with encryption. But (given the info available so far: the charge seems to be just being "unmoderated" and not giving up people's data), this looks very bad and worrying for the future of software and [communication] freedom in Europe.”

Telo News - Crypto | DeFi | Web3

25 Aug 2024 06:18

In response to Pavel Durov’s detention in France, the TON Community sent out an official statement:

Following the recent news related to the Telegram’s founder Pavel Durov, we want to assure everyone that the TON community remains strong and fully operational.

As a community committed to freedom of speech and decentralization, we stand firmly by Pavel during this challenging time. Pavel has been a dedicated advocate for these values, and we believe his efforts to promote an open and decentralized internet will continue to inspire millions.

The TON community remains focused on our mission, and we will continue our work to uphold these principles globally. We encourage everyone to stay calm, united, and to keep building as we navigate this situation together. Thank you for your continued support.

Telo News - Crypto | DeFi | Web3

24 Aug 2024 23:07

⚡️⚡️⚡️⚡️⚡️⚡️
Pavel Durov, the founder and CEO of Telegram, was arrested in France due to a search warrant issued on the basis of a preliminary investigation.

French authorities claim that the lack of moderation and cooperation with law enforcement on Telegram make it an accomplice in various crimes, including drug trafficking and fraud.

Durov may face indictment for multiple offences, such as terrorism, narcotics, and money laundering.

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Telo News - Crypto | DeFi | Web3

23 Aug 2024 16:59

Jerome Powell, head of the Fed, made significant statements today:

⚫ It's time to adjust the Fed's monetary policy (reduce the rate)
⚫ Fed will do everything possible to support a strong labor market
⚫ Timing and pace of rate cuts depend on macroeconomic data and risk balance
⚫ Inflation is steadily moving towards the 2% target
⚫ Significant progress has been made in achieving price stability without a sharp rise in unemployment
⚫ Risks to the Fed's dual mandate have shifted—while inflation risks have decreased, the risk of lower employment has increased
⚫ Fed does not seek or welcome further cooling in labor market conditions
⚫ Economy continues to grow at a steady pace

Markets expect the Fed to cut rates by 100 basis points by the end of 2024, leading to BTC surging to $62k while the USD index dropped by 1%.

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23 Aug 2024 08:23

Russia plans to launch two crypto exchanges in Moscow and St. Petersburg to support foreign trade, with access initially limited to major exporters and importers.

Experts warn of risks, including potential sanctions and trust issues due to the centralized nature of the platforms.

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Telo News - Crypto | DeFi | Web3

22 Aug 2024 12:06

In 2024, crypto firms have emerged as the top corporate political spenders, accounting for nearly 48% of all corporate contributions in the elections.

Of the $248m in total donations, $119m came from crypto companies, primarily through non-partisan super PACs supporting pro-crypto candidates.

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Telo News - Crypto | DeFi | Web3

22 Aug 2024 07:44

Elon Musk's X investor list has been unsealed in a court filing, with notable investors including:

⚫ Andreessen Horowitz
⚫ ARK Ventures
⚫ Binance
⚫ Fidelity
⚫ Jack Dorsey
⚫ Kingdom Holding (Saudi Arabia)

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Telo News - Crypto | DeFi | Web3

22 Aug 2024 06:07

The U.S. has seen a reduction of 818,000 jobs. This significant downward revision could reignite fears of a recession, prompting a shift away from risky assets.

Additionally, the updated labor market data may lead to a more substantial rate cut by the Fed next month.

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Telo News - Crypto | DeFi | Web3

22 Aug 2024 05:46

Scammers hacked McDonald’s Instagram and stole over $700,000 after using it to promote and rug a memecoin called “Grimace.” Posts were later deleted.

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21 Aug 2024 07:56

Germany's financial regulator, BaFin, seized 13 unregistered crypto ATMs without permits across 35 locations due to concerns over illegal operations and insufficient KYC measures.

BaFin says they have already seized almost $28m in cash as part of a nationwide operation targeting crypto ATMs.

CoinATMRadar data shows that there are 176 crypto ATMs/tellers in Germany.

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21 Aug 2024 06:48

Brazil's SEC approved its second Solana ETF, which is currently in the pre-operating phase. The ETF will be offered by Hashdex, a firm managing $962m in assets (AUM).

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Telo News - Crypto | DeFi | Web3

21 Aug 2024 06:30

Mt. Gox transferred 13,264 BTC (~$784.2m) likely to Bitstamp, leaving just 46,164 BTC (~$2.7bn), per Arkham data.

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Telo News - Crypto | DeFi | Web3

20 Aug 2024 16:21

State Street, a global custody bank overseeing $44.3tr in assets, has chosen cryptocurrency custody and tokenization specialist Taurus to provide digital asset services. This partnership comes as State Street anticipates a more favorable regulatory environment in the U.S. for digital assets.

Taurus already offers tokenization and digital asset custody services to major banks, including Deutsche Bank and Credit Suisse.

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Telo News - Crypto | DeFi | Web3

26 Aug 2024 05:40

Telegram Founder Pavel Durov's recent arrest in France has sparked widespread global support, all united in their protection of free speech and digital rights.

Crypto Communities
⚫ TON updated Toncoin’s logo and profile picture to 'Resistance Dog,’ the symbol of Digital Resistance—a movement started by Durov to maintain Telegram users' privacy and protect free speech.
⚫ Memeland used its treasury fund to purchase $1m of TON to support Durov.
⚫ DWF Labs founder Andrei Grachev purchased $500k of TON on the open market.
⚫TRON's Justin Sun called for the creation of a #FreePavel DAO, pledging $1m in support.

Social Media Executives
⚫ X's Elon Musk posted clips of Durov discussing U.S. attempts to access Telegram and his admiration for X, while expressing support with "#FreePavel."
⚫ Rumble's Chris Pavlovski left Europe following Durov's arrest, publicly calling for his release, and is currently engaged in French legal battles over content moderation and free speech.

Free Speech Advocates
⚫ NSA whistleblower Edward Snowden expressed his support, saying it was an assault on basic human rights of speech and association.
⚫ Podcaster Lex Fridman said the arrest was a "disturbing attack on free speech," saying it not only threatened TG, but "any online platform."
⚫ Journalist Tucker Carlson pointed out how Durov left Russia when the government tried to control his social media company but in the end, it wasn't Putin who arrested him but a western country, a NATO country.

Politicians
⚫ Former U.S. presidential candidate Robert F. Kennedy Jr. said the need to protect free speech has never been more urgent.
⚫ Leader of Reform UK and MP for Clacton, Nigel Farage, said Durov's arrest was "worrying" and that all platforms have bad actors.
⚫ Leader of France's Les Patriotes party, Florian Philippot, said France offered "its tyranical face to the world," saying the arrest was an "attack on freedom of speech."

Communities are urging supporters to join the #DigitalResistance, #FreeDurov movement.

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Telo News - Crypto | DeFi | Web3

25 Aug 2024 17:07

✔ This week's crypto market highlights:

⚫China deems virtual assets as money laundering
⚫Tether plans UAE dirham stablecoin
⚫Scammers hack McDonald’s Instagram
⚫Elon Musk's X investor list
⚫Colombia claims Worldcoin violated data laws
⚫Tether drops blockchain plans
⚫Telegram’s Durov arrested in France​

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Telo News - Crypto | DeFi | Web3

25 Aug 2024 09:35

In a 2015 CNN interview, when Telegram founder Pavel Durov was asked about his app being used by attackers, he said:

“Of course, we are concerned about the potential use of the technology we make.”

“I don’t think so. [The attackers] were also using iPhones and Android phones and microchips… It’s kind of misleading to say that we or any other tech companies were responsible for that.”

“You cannot make messaging technology secure for everybody except terrorists — it’s either secure or not secure.”

Telo News - Crypto | DeFi | Web3

25 Aug 2024 06:08

Pavel Durov, the founder of Telegram, is due to appear in court on Sunday after being detained on the tarmac of Paris-Le Bourget Airport upon arrival from Azerbaijan.

The French search warrant issued by the OFMIN, an agency tasked with preventing violence against minors, was valid if, and only if, Durov was on national territory.

He allegedly knew that he was "persona non grata" in France, rarely traveled to Europe and avoided countries where Telegram was under surveillance by security forces, a source close to the investigation told French media TF1.

"He made a mistake tonight. We don't know why... Was this flight just a stopover? In any case, he's in custody," a source told TF1.

Elon Musk responded to reports of Durov's detention, posting on X: "It's 2030 in Europe and you’re being executed for liking a meme."

French media reported that Durov, a dual citizen of France and Russia, could potentially face up to 20 years in prison.

The Russian foreign ministry stated that its embassy in Paris is working to clarify the situation surrounding Durov and has urged Western non-governmental organizations to demand his release.

In response, several Russian bloggers called for protests at French embassies worldwide at noon on Sunday.

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24 Aug 2024 08:26

Kraken faces a lawsuit from the SEC accusing it of operating as an unregistered securities exchange.

A federal judge ruled that some transactions on Kraken's platform might qualify as investment contracts, making them subject to securities laws.

Kraken had sought to dismiss the case, arguing that digital assets are not securities, but the judge allowed the lawsuit to proceed.

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Telo News - Crypto | DeFi | Web3

23 Aug 2024 13:27

Tether has decided not to launch its own blockchain, citing market saturation.

CEO Paolo Ardoino emphasized focusing on security across existing platforms rather than adding another blockchain.

The top five blockchains, led by Ethereum, control 86% of total value locked in the ecosystem.

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Telo News - Crypto | DeFi | Web3

23 Aug 2024 08:12

Colombia accused Worldcoin of violating data protection laws through iris scans, potentially leading to fines or suspension. Worldcoin has faced similar issues in other regions.

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Telo News - Crypto | DeFi | Web3

22 Aug 2024 09:39

Former FTX executive Ryan Salame seeks to void guilty plea, claiming the government broke its promise not to investigate his partner, Michelle Bond, for campaign finance violations. Salame pleaded guilty to two felony charges in September 2023.

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Telo News - Crypto | DeFi | Web3

22 Aug 2024 07:00

Binance CEO Richard Teng stated that Binance does not need an IPO or additional fundraising, highlighting strong financials and profitability since its fifth month of operation.

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Telo News - Crypto | DeFi | Web3

22 Aug 2024 05:52

Binance plans to hire 1,000 employees in 2024, primarily focusing on compliance roles.

The company’s annual spending on regulatory requirements, including U.S. oversight under a plea deal, now exceeds $200m.

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Telo News - Crypto | DeFi | Web3

21 Aug 2024 15:56

Telegram and WhatsApp faced outages in Russia, Kazakhstan, and Finland, affecting both mobile and desktop versions.

Other services like Wikipedia and Steam were also disrupted.

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21 Aug 2024 07:46

Montenegrin authorities arrested FutureNet co-founder Roman Ziemian, accusing him of operating a crypto fraud scheme that allegedly stole approximately $21m.

Ziemian was discovered living under a false identity in Montenegro's capital, Podgorica.

An arrest warrant was issued by South Korea and Ziemian’s native country, Poland, who allege he committed fraud, money laundering, and theft. He faces the possibility of life imprisonment in South Korea.

He is set to appear before a judge in Podgorica’s High Court to determine his extradition.

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21 Aug 2024 06:43

VP Kamala Harris announced her support for President Joe Biden's 2025 budget proposal. The plan includes a 44.6% long-term capital gains tax and a 25% tax on unrealized gains for individuals with wealth exceeding $100m.

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Telo News - Crypto | DeFi | Web3

21 Aug 2024 04:43

60% of the largest U.S. hedge funds hold Bitcoin ETFs, with none selling in Q2 and most continuing to accumulate.

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20 Aug 2024 10:40

The Democratic party left out "Bitcoin" and crypto in its 92-page platform.

Key details:
⚫ Refer to Biden's "second term" 19 times while Donald Trump was mentioned 150 times.
⚫ Push for a $15/hr minimum wage.
⚫ Raise taxes: corporate tax to 28%, billionaires' income tax to 25%, American multinationals' foreign earnings tax to 21%, and stock buyback tax to 4%.
⚫ End loopholes: "like-kind exchange" for real estate profits, "stepped-up basis" for inherited wealth, and "carried interest" for fund managers.

VP Kamala Harris also skipped the "Crypto4Harris" event, which included prominent industry figures aiming to push for a pro-crypto stance in the Democratic party.

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