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🌙 Telegram CEO Arrest Shakes Crypto; Vitalik Warns on DeFi

Pavel Durov’s arrest, how it affected the market, raised regulatory concerns, and Vitalik Buterin’s warnings about DeFi’s weak spots.

Author

Mike Gavela
August 27, 2024

In partnership with

Crypto Roundup - August 27

Telegram CEO Pavel Durov's recent arrest in France has sent shockwaves through the crypto community, particularly affecting Telegram Open Network (TON), which saw a significant drop in value. The arrest has drawn parallels with previous legal actions against Tornado Cash, sparking concerns over increasing regulatory scrutiny in the crypto space. Meanwhile, Ethereum co-founder Vitalik Buterin has voiced concerns about the flaws within decentralized finance (DeFi), emphasizing the need for stronger security measures and governance to protect users and maintain the integrity of DeFi systems.

Top Stories:

  • TON down 14% after Telegram CEO Pavel Durov's arrest in France.

  • Arrest echoes Tornado Cash prosecutions, raising fears of heightened regulatory action in crypto.

  • Vitalik Buterin highlights flaws in DeFi, calling for improved security and governance.

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TOP STORIES

TON Down 14% as Telegram CEO Pavel Durov Arrested in France

Durov's arrest stems from a warrant issued by France's OFIM, an office that works to prevent violence against minors, as part of a complaint into Telegram's lack of moderation and cooperation with law enforcement.

www.coindesk.com/markets/2024/08/25/ton-down-14-as-telegram-ceo-pavel-durov-arrested-in-france

How Telegram founder’s arrest echoes Tornado Cash prosecutions

French officials say insufficient content moderation “at the heart of this case" that led to the arrest of Telegram founder Pavel Durov.

www.dlnews.com/articles/regulation/how-telegram-founder-arrest-echoes-tornado-cash-prosecutions

Vitalik Buterin doesn’t like DeFi. Here’s what the Ethereum co-founder wants instead

The Ethereum co-founder said much of decentralised finance "feels like an ouroboros."

www.dlnews.com/articles/defi/ethereum-cofounder-vitalik-buterin-on-defi-flaws

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Ethereum Layer 2 Network StarkNet Struggles to Maintain Its Footing Post-Airdrop - "The Defiant"

Ethereum Layer 2 network StarkNet is struggling to recover from an airdrop that left some users disgruntled as most activity metrics plummet.

thedefiant.io/news/blockchains/ethereum-layer-2-network-starknet-struggles-to-maintain-its-footing-post-airdrop

Jerome Powell is ‘dovish across the board’: Unpacking the Jackson pivot

Federal Reserve Chair Jerome Powell's comments in Jackson Hole suggest he struck the Fed put and anchored it to the labor market.

blockworks.co/news/on-the-margin-newsletter-powell-pivot-dovish

Vitalik Buterin breaks down 2023 Ethereum Foundation spending

Ethereum co-founder Vitalik Buterin has provided a breakdown of the Ethereum Foundation's spending in 2023 in response to community queries.

cointelegraph.com/news/vitalik-buterin-breakdown-2023-ethereum-foundation-spending

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