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It’s been a tumultuous week for TON after the Telegram founder's arrest triggered a rapid sell-off, and two separate prolonged outages hit the network as the new DOGS memecoin overwhelmed the network.
Amid the chaos, TON’s price has still dropped over 20% this past week. This is despite Telegram also revealing they held $400M in crypto on their balance sheet and that 40% of their revenue came from crypto features!
Meanwhile, Telegram CEO Pavel Durov was released on €5M bail in France after being arrested there last week. His release, tied to a string of charges for “allowing” illegal activity on Telegram, adds to the challenges facing the TON ecosystem.
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