Telegram CEO faces Jail Time, Bitcoin Slides, Elon Hypes Dogecoin đ
Welcome to the new month guys đ„
August was anything but exciting⊠memecoin fever did catch some of us.. but it was nothing short of underwhelming.
When will the alt season start so everyone can go bananas?
Anyway, Telegram CEO Pavel Durov was finally released on bail after the French police arrested himâŠ
But heâs not done yet with the authorities though as heâs been put on âcountry arrestââyou know that statement detectives make in movies where they tell suspects not to leave the country.
The good part is this whole charade hasnât affected the marketâat least not directly.
Though, Bitcoin ended the month with an 8% loss.
Here are the Highlights:
- Telegram CEO Pavel Durov faces serious charges and threat of lengthy sentence in France
- Bitcoin loses 8.6% in August as September starts with fresh 2-week low
- Elon Musk hints at Dogecoin's return as Tesla merchandise payment after court win
- Democrat lawmaker blasts SEC's 'blatant abuse of power' over crypto enforcement
Out on Bail, Telegramâs Durov Faces Serious Charges and the Threat of a Lengthy Sentence
Pavel Durov, the visionary behind Telegram's secure messaging empire, now finds himself at the center of a legal storm in France, where he's facing serious charges linked to the very privacy features that made his platform a global sensation. Pavel Durov, the CEO and founder of messaging giant Telegram, has been released from custody after being charged by French authorities. He is now under judicial supervision after a court appearance.
Bitcoin loses 8.6% in August as September starts with fresh 2-week low
Data from Cointelegraph Markets Pro and TradingView showed BTC price weakness producing lows of $57,230 on Bitstamp â a level last seen on Aug. 16. Coming midway through a weekend, less liquid conditions made for a grim monthly close, with buyers unable to prevent further losses later. Bitcoin thus finished August down 8.6%, below its average of 1.75% gains, per data from monitoring resource CoinGlass.
Elon Musk Hints at Dogecoinâs Return as Tesla Merchandise Payment After Court Win
Tech billionaire Elon Musk hinted at the possible return of Dogecoin as a payment option for Tesla merchandise. It is unclear when this feature would be reinstated considering the car maker previously supported DOGE payments. This comes shortly after Musk and Tesla successfully dismissed a lawsuit accusing them of manipulating Dogecoin's price
Democrat lawmaker blasts SECâs âblatant abuse of powerâ over crypto enforcement
Congressman Wiley Nickel (D-NC) has voiced strong criticism against the US Securities and Exchange Commission (SEC), accusing the agency of undermining trust in the regulatory system because of its âregulation by enforcementâ approach. In a recent social media post, Nickel called the SECâs approach a âblatant abuse of powerâ that risks stifling digital innovation across the US. The Congressman has been a vocal proponent of crypto and consistently pushed for a regulatory framework for the industry to ensure customer protection.
Other Highlights Worth Mentioning
Coinbase Completes First AI to Crypto Transaction - TradingView
Binance under scrutiny for seizing Palestinian crypto funds - Cointelegraph
Elon Musk and Tesla Win Dismissal of Dogecoin Market Manipulation Lawsuit - MilkRoad
Brazil blocks Muskâs X after company refuses to name local representative amid feud with judge - Apnews