Telegram-related blockchain project The Open Web (ton) expressed solidarity with Pavel Durov following his arrest by French authorities over the weekend.
What happened: In a show of defiance, TON updated their logo and profile pictures on their official social channels to Resistance dog – a worldwide symbol for the fight against censorship and freedom through digital resistance.
The movement was started by Durov himself to protect data privacy and ensure the freedom of speech of Telegram users.
Interestingly, memecoin, Resistance dog REDO/USDwhich pays tribute to this movement, has shot up 150% in the past 24 hours, according to CoinGecko.
See also: Donald Trump launches crypto platform ‘The Defiant Ones’ to challenge traditional banking systems
Why it matters: REDO’s dramatic peak coincided with of Toncoin TON/USD sharp decline.
TON, which is deeply integrated with messaging platform Telegram, plunged more than 20% after Durov was arrested in France, wiping out nearly $3 billion of the cryptocurrency’s market cap that was destroyed during that period.
However, in the last seven days, Toncoin is down 14.80%.
Durov, a Russian-French billionaire, was detained on Saturday night while traveling on his private jet. The arrest is linked to an ongoing police investigation in France, which is reportedly focused on Telegram’s lack of moderators, which allows criminal activity to continue on the platform.
Price action: At the time of writing, TON was exchanging hands at $5.80, up 0.58% in the last 24 hours, according to data from Benzinga Pro.
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