#cryptonews
Pavel Durov, the founder of Telegram, reportedly appeared in a Paris court on December 6 for his first formal questioning related to allegations that the messaging platform facilitated criminal activities.
The session, held at 10 a.m. CET, saw Durov accompanied by his lawyers, David-Olivier Kaminski and Christophe Ingrain, according to an anonymous source cited by Agence France-Presse (AFP).
He was released after posting a $6 million bail but remains barred from leaving France until March 2025. French prosecutors officially filed preliminary charges against him on August 28, accusing Telegram of serving as a platform for illegal activities. If convicted, Durov could face up to 10 years in prison and a fine of €500,000 ($550,000).
Durov’s legal troubles began on August 24, when he was briefly detained at Le Bourget Airport in Paris.
As reported, the company’s gains in crypto holdings, revenue from Toncoin sales, and a terminated exclusivity deal with Toncoin have significantly bolstered its finances. According to the disclosures, the platform’s cryptocurrency holdings tripled in value during the first half of 2024, reaching $1.3 billion.
Telegram has emerged as a major player in the cryptocurrency market, with its crypto holdings skyrocketing to $1.3 billion in the first half of 2024 from $400 million at the end of 2023.
The company further monetized Toncoin by securing a $225 million exclusivity deal that made the cryptocurrency the sole method for small businesses to purchase ads on its platform. In October, Telegram revealed that it is set to establish a local office in Kazakhstan. The decision, announced by the Ministry of Digital Development, Innovations, and Aerospace Industry, came amid efforts to improve communication with local authorities and manage platform content more effectively.
This growth is majorly attributed to Telegram selling $353 million worth of digital assets in the first six months of 2024.
