Pavel Durov, Elon Musk and Kim Dotcom: famous crypto fans are having a crap summer
Last Updated on 30 August 2024 by CryptoTips.eu
Striking to see this summer that many celebrity crypto fans got into trouble with global authorities.
The most famous event in recent weeks was undoubtedly the arrest of Telegram (and Toncoin) CEO Pavel Durov in France. But the stress that this logically entails for Tesla CEO (and world’s biggest Dogecoin fan) Elon Musk is also striking.
Finally, there was news about well-known Bitcoin Cash fan (and former CEO and founder of MegaUpload) Kim Dotcom, who will soon be extradited to the United States after a twelve-year legal battle.
Pavel Durov
The CEO of the well-known social media network Telegram was arrested last weekend after his private plane landed in France. He has since been released but is not allowed to leave the territory. Toncoin’s price took a serious hit as a result and the expectation that Telegram would be offered for an IPO on one of the world’s largest stock exchanges (New York or London) this year was also put on hold for at least a few months.
Following the recent plunge of the Telegram-Linked Token Toncoin, August Co-Founder and Co-CEO Aya Kantorovich says Telegram is one of the core pillars in the crypto ecosystem https://t.co/SFUiGN9ZJp pic.twitter.com/AxQmhfLSyA
— Bloomberg TV (@BloombergTV) August 27, 2024
Telegram (as well as its own cryptocurrency Toncoin) had a very good 2024 so far with incredible growth in their customer base. This arrest and the lawsuit that will follow could of course mean bad news for the company. Any further news about Durov can have an impact on the price of Toncoin.
Elon Musk
One man who can’t stop commenting on Durov’s arrest is of course Elon Musk, the other well-known crypto fan.
It is widely believed that Durov’s refusal to cooperate with global authorities regarding content offered on Telegram led to his arrest.
— Elon Musk (@elonmusk) August 28, 2024
This also means that the French (and European) authorities could issue an arrest warrant for Tesla CEO (and well-known Dogecoin fan) Elon Musk in the future. Musk owns X (formerly Twitter) and is also reluctant to cooperate with the authorities to let them control freedom of expression on his platform in any way.
Musk has been tweeting nonstop about Durov’s case and criticized French authorities.
Brazil's Supreme Court threatens to ban Twitter/X nationwide unless the platform appoints a legal representative in the country within 24 hours. pic.twitter.com/GivzDuQVrP
— Pop Base (@PopBase) August 29, 2024
Lastly, Musk is also involved in a joust with the authorities in Brazil. After denying a court order, he risks X being blocked there.
Kim Dotcom
The latest well-known crypto fan (especially a Bitcoin Cash fan) who’s having a bad summer is Kim Dotcom, former CEO and founder of the now defunct website MegaUpload.
The FBI served a search warrant on Scott Ritter. And now here comes the extradition of Kim Dotcom to the US to face racketeering and fraud charges.👍 pic.twitter.com/41rby9FbeB
— Jack’s House 🇺🇦 (@FluteMagician) August 15, 2024
The FBI raided his home in Auckland in 2012, but Kim managed to stay in New Zealand thanks to a crack team of lawyers.
The newest New Zealand Minister of Justice finally gave in to his counterpart in the United States two weeks ago and Kim Dotcom will soon be extradited to Washington DC (the date is yet to be determined).
In all, a crappy summer for these well-known crypto fans.