The Open Network Coin or TonCoin (TON) previously called Telegram Open Network Coin just days ago was the #8 Crypto by Marketcap. In the last week TON has lost ~$4.5B in marketcap and is currently sitting at #11.
TON started off as crypto token developed by the CEO of Telegram. In 2020 Telegram disowned it and it was taken over by an independent community of blockchain devs and blockchains enthusiasts. TON really started to see a huge surge in value in 2023 when Telegram endorsed it and added back into Telegram stating “it would be the Telegram official web 3 infrastructure”.
Now that the CEO of Telegram is in legal trouble and is being charged for 12 things, 3 of which relate to Cryptocurrency (TON) how bad is it going to get for TON?
Crypto related charges are as follows:
Providing cryptology services aiming to ensure confidentially without declaration Providing a cryptology tool not solely ensuring authentication or integrity monitoring without prior declaration Importing a cryptology tool ensuring authentication or integrity monitoring without prior declaration
I know nobody knows for sure but some users will have a better idea of how TON can weather a worst case purge from Telegram.
submitted by /u/GabeSter
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