Pavel Durov, Elon Musk and Kim Dotcom: famous crypto fans are having a crap summer

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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.

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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.

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.

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.

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 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.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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