GM Explorer,

The sudden arrest of Telegram co-founder and CEO Pavel Durov has sparked widespread outrage and concern about what it could mean for the crypto community.

Here’s what we got for you today:

• 🤯 Impact of Telegram’s CEO's arrest on crypto!

• ⚖️ Chinese billionaire jailed for $5M crypto fraud!

• 🧱 Around The Block: Bitcoin inflows surge to $543 million after Powell's dovish comments.

🤯 Impact of Telegram’s CEO's Arrest on Crypto!

On Saturday, Telegram co-founder and CEO Pavel Durov was arrested in France after arriving on his private jet from Azerbaijan.

And let me tell you, the charges against him are no joke - they include:

• Complicity in operating an online platform to enable illegal transactions in an organized group.

• Refusing to provide information necessary for legal interceptions.

• Complicity in possession and distribution of child pornography in an organized group.

• Complicity in drug trafficking, organized fraud, and money laundering related to organized crime, etc. See more here.

He was also charged with providing “cryptology” services without proper certification and “importing cryptology tools” without prior declaration.

And get this:

News of Durov’s arrest sent the price of Toncoin (TON), the token of the Telegram-affiliated The Open Network, haywire!

It dipped by nearly 20% this past weekend but is slowly recovering, rebounding by 1.5% in the last 24 hours. As of this writing, Toncoin is trading at $5.39 USD.

Even the crypto community is in a frenzy over Durov’s arrest!

This is because Telegram has been a crucial communication tool for many crypto projects and communities, including Crypto Briefing’s Telegram channel.

So, any changes to the platform due to regulatory pressure could have major ripple effects across the blockchain industry.

And as you can imagine, the backlash over France’s decision to arrest Durov has been massive.

Some have labeled it an unjust and politically motivated move by the French government to silence Durov, a well-known free speech advocate.

Elon Musk also joined the voices protesting by posting a #FreePavel video on X.

However, French President Emmanuel Macron is holding his ground.

In a lengthy post on X, he insists that the arrest is "in no way a political decision" but rather part of an ongoing judicial investigation.

What do you think? Do you believe it's political or not?

⚖️ Chinese Billionaire Jailed for $5M Crypto Fraud!

Ever heard of tycoon Yang Bin, a Chinese-Dutch national who was once the second-richest man in China?

Well, if you’re a fan of Forbes, you might have read about him in 2001.

He's just been sentenced to six years in prison and fined S$16,000 (that’s around $12,200) in Singapore for masterminding a multi-million dollar Ponzi scheme that masqueraded as a crypto investment operation!

How did he pull it off?

In 2021, Yang set up A&A Blockchain Innovation without a valid work permit and began luring investors with the promise of daily returns of 0.5% from his purported fleet of 300,000 cryptocurrency mining machines.

But you know what? those mining machines didn't even exist!

He used money from new investors to pay off earlier ones, scamming over 700 people out of S$6.7 million (over $5 million) between May 2021 and February 2022.

But that's not all

Yang also instructed his co-accused, Wang Xinghong, to develop an app that faked investment returns, making it look like investors were really raking it in.

To make matters worse, Yang pleaded guilty to eight other charges, including conspiracy to cheat and operating without a valid work permit.

Naturally, the judge was unimpressed, pointing out Yang's significant culpability and the absence of restitution for the victims.

Oh, and it’s shocking, but this isn’t Yang's first rodeo with the law.

He was previously involved in the textile industry in China and was even appointed by North Korea to oversee the economic development of the Sinŭiju Special Administrative Region in 2002.

But that stint ended with him being placed under house arrest by Chinese authorities on tax evasion charges. Talk about a fall from grace!

Yang’s journey from tycoon to convict is a cautionary tale no one wants to live out.

It's a stark reminder that shady dealings eventually catch up with you, no matter who you are or where you are. The truth always comes to light!

Curious for more? Click here to dive deeper into this captivating story.

🧱 Around The Block

• Bitcoin inflows surge to $543 million after Powell's dovish comments.

• Free Speech and Bitcoin: Why President Nayib Bukele and Tether CEO want you in El Salvador.

• Tokenized treasuries surpass $2B as crypto projects seek new types of reserves.

• Investors cash out as Telegram-based memecoin DOGS launches.

• Polygon Discord compromise hits Avalanche and ZKsync hours later.

• MicroStrategy outperforms major companies with 1,113% growth since 2020.

• Trump's crypto project gets renamed to 'World Liberty Financial,' warns community against fake tokens and scams.

That's all we've got for you today.

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Catch you soon.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.