Pavel Durov, founder and CEO of social media app Telegram, has been allowed to leave France amid an ongoing court case with French authorities. The Russian-born billionaire has reportedly traveled to Dubai leaving the French territory for the first time since his indictment last year. Telegram Founder Tastes Freedom – Case Resolved? In August 2024, French law enforcement officers arrested Pavel Durov at Le Bourget Airport near Paris, citing a lack of control measures on Telegram. Within four days, the renowned tech entrepreneur was formally charged with failing to curb illegal activities on Telegram, including terrorism-related content and child pornography materials, despite the platform’s vast user base of over 900 million. Durov’s arrest sparked a widespread debate among internet users, raising concerns over free speech and the extent to which social media platform owners should be held accountable for user activities. Shortly after his detention, the Telegram CEO was released on a €5 million ($5.6 million) bail but was prohibited from leaving France.According to a recent report by AFP, a French court has now approved a temporary leave for Durov allowing the defendant to travel to Dubai on March 15. It remains unknown if the Telegram founder has resolved the charges by the Paris’s Prosecutor office but an unnamed source says Durov is allowed to spend some weeks outside of France. TON Foundation Lauds Pavel’s Freedom The “temporary” release of the highly revered tech figure has been well-received by the digital community including many crypto enthusiasts. Notably, the Telegram messaging app has ventured boldly into the blockchain space over the past few years. In 2018, Telegram developed The Open Network (TON) blockchain, which it intended to use in launching its own cryptocurrency Gram.Following regulatory issues with the US Securities and Exchange Commission (SEC), Telegram’s leadership transferred ownership of TON to an independent community of developers. However, the social media app remains integrated with TON and allows the use of Toncoin for payments as well as hosts several web3 applications. Commenting on Pavel’s release, the TON Foundation released a statement saying: This news marks a significant moment of resolution. With nearly a billion users worldwide, Telegram represents a global movement committed to the freedom of communication and the inalienable right to privacy. As part of the decentralized TON community, we have stood in solidarity with Pavel, supporting his unwavering dedication to defending the right to free speech and privacy online. They further added: We extend our deepest gratitude to our community, the broader tech industry, and all advocates of free speech who have been vocal in their support of Pavel. Following news of Durov’s departure from France, Toncoin (TON) surged by 20%, and reached a peak of $3.47 before trading at around $3.46. Featured image from Le Parisien, chart from Tradingview
Will the market tip in favor of bulls or bears?
MultiversX shows strong development activity in the crypto gaming sector. Rigorous data collection enhances the reliability of project insights. Continue Reading: MultiversX Dominates Development Activity in Crypto Gaming Sector The post MultiversX Dominates Development Activity in Crypto Gaming Sector appeared first on COINTURK NEWS .
Bitcoin's biggest critic issues new bubble warning
Four Vietnamese brothers have been arrested by authorities for running a gambling ring under the guise of cryptocurrency investments. According to authorities, the suspects were running a gambling ring worth about $3.8 billion, allowing users to bet with several digital assets, including USDT, ETH, and Naga tokens. Aside from providing a platform for users to bet, the group also allowed them to earn commissions by inviting new participants. The Vietnamese police have also said that they are expanding their investigations into the gambling ring led by 32-year-old Huynh Long Nhu, alongside his brothers Huynh Long Tu and Huynh Long Bach. The authorities mentioned that at the request of the prosecutors in charge of the case, they are also investigating their sister Huynh Thi Ha Tay. According to the Vietnamese police, they have recommended a charge of organizing gambling and gambling for Nhu, Tu, Tay, and about nine other defendants. Vietnamese police want brothers to face gambling charges According to the Vietnamese police, Bach and 20 others should face only charges of organizing gambling, while 10 other members of the ring would be charged for gambling. Authorities mentioned that the brain behind the whole operation, Indian national 32-year-old Bhatia Mohit, is currently at large, with the police also in coordinated efforts to apprehend other members of the ring. Huynh Long Bach arrested in connection to the crime. Source: VNExpress. The police mentioned that the gambling ring ran a full-scale operation, with the network running from early 2020 before their operation was dismantled at the end of 2021. According to investigators, Nhu and Bach were in charge of a website that had 25,000 registered accounts, with about $3.8 billion in bets facilitated. Huynh Long Nhu arrested in connection to the crime. Source: VNExpress. Authorities mentioned that the siblings hired foreign IT experts to help develop and maintain the websites. The gambling ring used Swiftonline.live and Nagaclubs.com websites, which authorities said were linked to the international betting website Evolution.com. The group also rented online card game portals to support its gambling operations. Nhu was in charge of Swift online.live, while Bach controlled Naga clubs.com, which alone had more than 5,000 registered accounts. Authorities bust fake multi-level marketing investment scheme According to the police, the group lured players to their website by promoting it as a financial investment in cryptocurrencies, running a multi-level marketing model. The website, under this model, promised users daily profits of about 1% to 1.5%. The group urged users to register to insure their bets, which would guarantee them a reward if they lost. In addition, players were also rewarded with commissions if they recruited players into the investment scheme. To carry out activities on the platform, users were asked to create an account on Switfonline.live website and purchase USDT using Vietnamese currency from exchanges like Binance and Remitano or from other players. The digital assets were then moved to the platform’s wallet, where users could gamble. The minimum deposit on the platform was $20, which was often paid in USDT. The platform allowed users to withdraw their winnings only if they hit the $20 threshold. Users could withdraw through Remitano or Binance or sell their winnings to another platform member to be converted to cash. The modus operandi was the same for other platforms run by the group, with the USDT deposits made on Nagaclubs.com converted to Naga tokens before being used on the platform. Nagaclubs.com ran its special multi-level commission structure, ranking players on the platform from VIP 1 to VIP 10, basing these ranks on the number of recruits a user brings to the platform or how much they used to gamble. The system automatically distributes rewards according to the ranks of the users’ accounts. Members also created telegram groups to monitor gambling activities and schedule bets. Cars purchased with proceeds from the crime. Source: VNExpress. According to investigations, the gambling ring made a lot of profit from the venture, with reports claiming that Nhu and his accomplices saw gains of about $2.2 million from their website, while Bach and his accomplices also saw gains of about $2.5 million from their website. The illicit funds were used to purchase several luxury items, including cars, real estate, and land. The gang members also sent some of the funds abroad, raising concerns about money laundering. Authorities are pursuing legal actions against the members apprehended while still tracking down other fugitives. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
XRP will lose 50% of price if this death cross plays out
Some believe XRP and Cardano could see unprecedented price surges by 2025. Predictions hint at new all-time highs, with XRP potentially reaching $7 and Cardano hitting $5. Such forecasts spark curiosity and debate among investors and crypto enthusiasts. Explore the factors driving these bold predictions and which coins are poised for significant growth. XRP Surge Amid Short-Term Fluctuations XRP experienced a modest decline of about 6.77% in the past month while achieving a remarkable surge of roughly 307.17% over the past six months. Recent price movements reveal a mix of volatile short-term dips counterpoised by strong long-term growth. The significant half-year gain highlights a powerful upward momentum that has been limited in the short term. Current trading shows XRP priced between $1.60 and $2.88. Key levels include support at $1.06 and resistance at $3.61, with a secondary resistance at $4.89. Price behavior suggests a balance between buyers and sellers with no clear trend emerging, indicating potential opportunities for trades within these key zones. Cardano Experiences Fluctuations as Market Conditions Shift Cardano experienced an 8.49% drop over the last month while surging 124.77% over the past six months, indicating a mix of short-term weakness and long-term strength. A recent one-week decline of 7.58% adds to the short-term volatility, reflecting rapid price adjustments during fluctuating market sentiment. These moves highlight a dynamic price evolution as Cardano adjusts to shifts in investor behavior and broader market conditions. ADA currently trades between $0.44 and $0.88, with support at $0.26 and resistance near $1.15. The additional resistance at $1.59 presents an upper hurdle, while the lack of a clear trend and an RSI at 47.65 keep bulls and bears in cautious balance. Trading within these levels may present opportunities for buying near support and selling near resistance. Conclusion XRP and ADA have shown strong potential for growth. Market dynamics and evolving use cases will play pivotal roles. XRP's drive toward $7 hinges on regulatory outcomes and increased institutional adoption. ADA's path to $5 depends on continuous development and successful network upgrades. Both coins are positioned well, but achieving these price points will require favorable market conditions and investor confidence. Steady progress and clear roadmaps will be key factors. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
The TON price has reclaimed the $3 mark with an over 20% spurt on Saturday, March 15. This price spike was triggered by the news of a French court approving the departure of Telegram founder Pavel Durov from France. Telegram Founder Reportedly Cleared To Leave France According to a report on Saturday, Durov was granted permission by a French court to depart the country, where he faces several charges of enabling organized crime. One of AFP’s sources said that the Telegram founder had been authorized to leave France for “several weeks.” Durov’s legal troubles began on August 24, 2024, after he was detained at the Le Bourget airport in Paris. A few days later, France’s Prosecutor’s Office brought several charges against the Telegram founder centered around running a messaging platform that allegedly enabled illegal activities. Related Reading: Stablecoins Supply Up By $20 Billion – The Key To Bitcoin’s Next Move? On August 28, Durov was released on a $6 million bail, albeit with restrictions on his movement and travels. The French prosecutors demanded that the Telegram founder remain in the country until the conclusion of their investigation. While the current condition of Durov’s case remains unclear, a source close to the case stated the Telegram founder was allowed to leave France temporarily after the investigating judge approved his request to modify the conditions of his supervision. “A third source said Durov had departed for Dubai,” AFP reported. Durov’s arrest led to an uproar within the crypto community at the time, as experts assessed the implications of such a move on the future of technology and encryption. Moreover, it marked another incident in the worrying trend of holding founders and developers accountable for the use of their platforms. It is worth mentioning that, as of press time, there has been no official word from Telegram and Durov confirming the report. TON Price Up 20% Following the report of Durov’s departure from France, TON (native cryptocurrency of The Open Network) reacted with a more than 20% price spike. As with the general crypto market, the altcoin has struggled to build any momentum in the past few months. After reaching the local high of $6 in early December, the TON price has since been on a steady decline. On Tuesday, March 11, the cryptocurrency dropped beneath the $2.5 mark for the first time in over a year. As of this writing, the TON price stands at around $3.4, reflecting an almost 18% surge in the past 24 hours. According to CoinGecko, the token’s performance has improved to a positive 17% gain in the past seven days. Related Reading: Ethereum Consolidates Since ‘The Big Dump’ – Local Trend Reversal Or Continuation? Featured image from Unsplash, chart from TradingView
XRP is signaling a possible bullish breakout, likely to elevate the asset to a new all-time high in the double digits. This possibility comes as XRP consolidates just above the crucial $2 spot, with the $2.5 zone as the next immediate resistance to watch. According to prominent cryptocurrency analyst Ali Martinez, XRP could potentially hit a $15 valuation because the digital asset has broken out of a symmetrical triangle pattern on the monthly chart, as noted in an X post on March 16. XRP price analysis chart. Source: TradingView/Ali_charts This symmetrical triangle pattern, which has formed since 2018, has historically preceded major price surges. As price action tightened, XRP recently broke above the upper trendline, signaling a potential uptrend. If the breakout holds, XRP could enter a price discovery phase, with a projected target of $15, potentially pushing its market cap to $870 billion. However, key resistance levels remain, and any pullbacks toward the breakout zone could test investor confidence. XRP’s key support to watch Meanwhile, an analysis by Egrag Crypto on March 16 stressed that for XRP to push toward $3, the $2.2 support needs to hold firm. As per the analysis, XRP is trading within an ascending channel, with $3 as the next key area of focus. XRP price analysis chart. Source: TradingView/Egrag Crypto If $3 is breached, the next major target aligns with the upper trendline, estimated at around $4.80 to $5. The broader formation suggests XRP is in an extended accumulation phase, with a breakout potentially leading to a 510% upside, targeting $14.84 as a long-term projection. However, a failure to hold $2.22 could see XRP retesting lower support near $2.17 before resuming its uptrend. As reported by Finbold, on-chain metrics support the possibility of an XRP rally, given that the asset has recorded an all-time high in the number of addresses near the seven million mark. However, the asset could be volatile, given that Ripple is set to release significant XRP from its escrow holdings . It is worth noting that the XRP community aims for sustained price growth after the asset broke out of a prolonged consolidation below the $1 spot. One catalyst for this growth could stem from reports suggesting that the case between Ripple and the Securities and Exchange Commission ( SEC ) might be moving toward a resolution. Indeed, the case has long been cited as a factor suppressing XRP’s growth. On the other hand, XRP may see strong capital inflows as several spot ETFs await SEC approval, with analysts estimating a 65% approval chance by October. XRP price analysis XRP was trading at $2.31 by press time, having plunged by over 5% in the last 24 hours. However, the asset remains green on the weekly chart, rallying by about 3.5%. XRP seven-day price chart. Source: Finbold At the current price, XRP is showing weakness in the short term as it remains below the 50-day simple moving average ( SMA ) of $2.50 but well above the 200-day SMA of $1.64, indicating long-term strength. Market sentiment is neutral, though the Fear & Greed Index at 30 suggests investor caution. Volatility is 8.44%, and the Relative Strength Index ( RSI ) at 50.50 indicates neither overbought nor oversold conditions. Featured image via Shutterstock The post XRP ‘setting up for a bull rally to $15’, says expert appeared first on Finbold .
The financial services giant Cantor Fitzgerald is predicting the stock market will see rallies in the next one to two weeks. In a new interview on CNBC Television, Eric Johnston, a macro strategist at Cantor Fitzgerald, says that he expects a short-term bounce in the stock market during the next couple of weeks even though he says the equity environment looks “fairly poor.” “You have an economy that is clearly slowing. Uncertainty is quite high… But within that view, we think we’re going to get a tactical rally here, probably somewhere in the range of 3% to 5% in the next couple of weeks. We think things line up very well from a technical perspective.” Johnston uses many technical indicators, such as the Relative Strength Index (RSI) – a momentum indicator used to indicate overbought or oversold levels – to support his stance that a tactical rally is in sight. “The RSI has gone below 32. We’ve backtested that [and it] backtests very consistent, very strong. The VIX curve (volatility index) has gone inverted. That is showing fear. That is also backtested very well. Seasonality is turning. Systematic funds have likely already sold what they needed to sell. And hedge funds have also brought down their net exposure. So you add that to the Fed next week, which is where we think they’re going to be dovish. And we think this sets up for a nice rally over the course of the next one to two weeks into month-end.” Recently, it was reported that the US stock market lost a staggering $5 trillion in value during the last three weeks. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Stock Market To Witness Rallies in Next One to Two Weeks, Predicts Wall Street’s Cantor Fitzgerald – Here’s Why appeared first on The Daily Hodl .