Telegram founder arrested, Trump and Harris tied on Polymarket, SEC v. Kraken, Binance under legal scrutiny again | Weekly Recap

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As a seasoned researcher with years of experience in the ever-evolving world of cryptocurrencies and blockchain technology, I find myself constantly amazed at the rollercoaster ride that this industry provides. Today’s news is a perfect example of the highs and lows that we frequently encounter.

1. According to reports, Pavel Durov, the creator of Telegram, was apprehended in an area close to Paris; the probability of the U.S. presidential election outcome on Polymarket has undergone a change; a court decision declined Kraken’s plea to dismiss legal accusations against them; Binance is confronting additional legal complications; and spot Bitcoin ETFs experienced consecutive days of increased investments.

Telegram founder arrested

  • Toncoin collapsed over 24 hours as reports confirmed that French authorities arrested Telegram founder Pavel Durov.
  • The Telegram CEO was arrested on Aug. 24 upon his arrival at an airport outside Paris. Authorities allege Durov is complicit in the free flow of criminal activities on his messaging and social media app Telegram. 
  • Notcoin also crashed by 18.87% within the same timeframe.
  • As concerns about her position in the crypto industry grew, Harris’ team assured last week that she would back policies promoting the growth of emerging technologies like cryptocurrency.
  • Her Republican opponent, former President Donald Trump, regained a lead over Harris on Polymarket, a website for crypto bettors. At last check, the two candidates are tied, each with 49%.
  • Meanwhile, on Aug. 22, sources confirmed that, while still in custody, Zhao had been moved to a halfway house, a development that preludes his imminent release from prison. 
    BTC ETFs saw five consecutive days of net inflows last week, totaling $506.4 million. In contrast, ETH ETFs witnessed five straight days of net outflows, amounting to $44.5 million in negative flows.
    Meanwhile, reports confirmed that the 19b-4 filings made by the stock exchange Cboe for spot Solana (SOL) ETFs had not even made it to the Federal Register as the SEC remains undecided on the securities status of Solana.

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2024-08-25 15:03