TON manifests itself after the release from prison of the CEO of Telegram, Pavel Durov

• Telegram CEO Pavel Durov was released from French custody today, but has been banned from leaving France.
• Durov has yet to face a French court following an indictment on several criminal charges.
• The price of TON increased by almost 3% after the release of Durov.

Telegram founder Pavel Durov was released from French custody on Wednesday after four days. The release was on several conditions, including that Durov not leave the country.

Telegram CEO released following charges by French government, TON recovers

Telegram CEO Pavel Durov was released from French custody today after being held for four days following his arrest at Le Bourget airport in Paris. Before his release, Durov was taken to court for questioning and possible indictment.

He was later indicted on several charges, including “complicity in the management of an online platform to enable illicit transactions by an organized group”. Durov was eventually granted $5 million bail and ordered to report to a police station twice a week.

Although he was released, Durov is still under official investigation and will not be allowed to leave France until he is in court. The arrest ignited several critical views from the Russian government and the crypto community. Many accused the French government of political agendas behind his arrest, while several members of the crypto community called for his freedom.

The TON blockchain was also significantly affected during Durov’s time in custody, experiencing several complications with its network. For example, TON temporarily stopped producing blocks on Tuesday after the launch of the DOG meme coin airdrop. The recent instability of the network could also be attributed to concerns about the future of Telegram and TON, as Durov is a key figure in both projects.

Following the announcement of Durov’s launch, TON saw slight gains of 3% and regained its place among the top 10 cryptocurrencies by market capitalization.

TON fell earlier on Saturday after Durov’s arrest, dropping out of the top 10 cryptos.

TON/USDT Daily Chart

On the daily chart, TON is attempting a move above its 100-day Simple Moving Average (SMA). A successful completion of this move could give it strength for a potential rally. However, more headwinds could see the price drop towards the support level around $4.604.