Toncoin, the token of The Open Network, slid more than 20 per cent after Mr Pavel Durov was taken into custody at a Paris airport on Aug 24 on suspicion of failing to take steps to prevent criminal use of Telegram.
The 10th-largest crypto asset pared some of the drop to trade at US$5.69 as at 10.36am on Aug 26 in Singapore but was still down 16 per cent as a result of the unfolding drama over 39-year-old Mr Durov, according to data compiled by Bloomberg.
The Open Network - or TON - blockchain has access to Telegram's 900 million monthly users via a partnership and seeks to enable services such as in-app payments and games. TON's rise spurred speculation that Telegram has a shot at becoming a "super app" in the style of Chinese giants like WeChat.
Denne historien er fra August 27, 2024-utgaven av The Straits Times.
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Denne historien er fra August 27, 2024-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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SHINING LIGHTS AT MUSEUM GALA
American actress Blake Lively, model Kaia Gerber and reality TV star Kim Kardashian took pictures under the lights, posing against a backdrop of more than 200 restored street lamps from Urban Light, an installation by American artist Chris Burden that served as a stand-in for a red carpet.
Body of One Direction star Liam Payne flown home to Britain
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Prada Outpaces fashion rivals on Miu Miu's Gen Z appeal
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For generations, Tiger Balm has been Asia's secret weapon - grandma's cure-all in a jar, packed with herbal goodness that can tackle anything from a stubborn headache to post-workout aches.
K-BEAUTY 'HANOK': KSISTERS' NEW LIFESTYLE STORE
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BUSY 2025 AWAITS TAN
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