Share this article
Telegram CEO Pavel Durov Could Be Free by October: Polymarket Bettors
A press release from French prosecutors said he could be released Wednesday, but the market isn't confident he'll be out by then.
Updated Aug 27, 2024, 12:00 p.m. Published Aug 27, 2024, 5:39 a.m.
Make us preferred on Google
- Telegram CEO Pavel Durov was arrested in France over the weekend.
- Bettors on Polymarket are putting money on him remaining in custody after the 96-hour deadline prescribed by courts, as there's a growing belief he may be formally charged.
Telegram CEO Pavel Durov could be free to go as soon as Wednesday local time, French prosecutors said. However, Polymarket isn't confident he'll be released in August, with bettors putting money on a release before the end of September.
Durov has not yet been formally charged, prosecutors said. Instead, he is being held as part of an investigation that stems as a result of crimes allegedly planned or broadcasted on Telegram, including money laundering, drug trafficking, child pornography, and non-cooperation with law enforcement.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bettors say there's a 72% chance he'll be out before October, with shares of the yes side trading at 72 cents. Each share pays out $1 in USDC, a stablecoin, if the prediction comes true, and $0 if it does not.
As Durov was arrested on Saturday, August 24, 2024, at 8:00 PM local time when his plane landed at Le Bourget airport, a general aviation airport north of Paris, he could be held until Wednesday, August 28, 2024, at 8:00 PM, but bettors have their money on an extended stay.
The press release indicates that if investigators uncover sufficient evidence during questioning, Durov's detention could be extended, or he could be formally charged and moved to pre-trial detention. This possibility likely fuels market skepticism about his release by the initial deadline.
Toncoin is trading above $5.38, according to CoinDesk Indices data, down 6.8%, while the CoinDesk 20 (CD20) a measure of the largest digital assets, is down 1.87%.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
What to know:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
Top Stories
