Toncoin Jumps 20% as Telegram’s Durov Leaves France

Toncoin Jumps 20% as Telegram’s Durov Leaves France

Toncoin (TON) surged 20% after Telegram founder Pavel Durov was granted permission to temporarily leave France for Dubai, sources told AFP. Durov had been banned from leaving since his August 2024 arrest, when he was charged with failing to curb extremist and criminal content on Telegram.

Durov, who holds Russian, French, and UAE passports, was released on €5 million bail and recently acknowledged the seriousness of the allegations. The TON Foundation celebrated his departure, confirming that French authorities had returned his passport and granting him freedom of movement for now.

The price of TON spiked on the news, reflecting renewed confidence in the project’s future as Telegram’s legal troubles ease. Tether CEO Paolo Ardoino posted on X, “Glad Pavel could return home today,” while traders speculated on whether his absence would impact Telegram’s ongoing regulatory negotiations.

Despite leaving France, Durov remains under investigation and is expected to return within weeks under judicial supervision. Telegram has declined to comment, stating that the company will issue an official statement later, as legal proceedings against its founder continue.

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Ethereum Devs Launch "Hoodi" Testnet for Pectra Upgrade

Ethereum developers have announced the launch of a new testnet, Hoodi, to finalize testing for the Pectra upgrade after previous failures on Sepolia and Holesky. The testnet will go live on March 17, with Pectra scheduled for testing on March 26 to evaluate performance and stability. Developers hope this will clear the way for a mainnet upgrade by late April or early May.

Pectra introduces smart contract improvements, including the ability for wallets to pay transaction fees in assets other than ETH. The Hoodi testnet was created due to configuration errors on prior networks, which delayed testing. With Ethereum facing competition from Solana and declining ETH prices, a successful rollout of Pectra is seen as critical to maintaining developer and investor confidence.

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US Court Allows 3AC to Expand FTX Claim to $1.5 Billion

A US bankruptcy court has ruled in favor of Three Arrows Capital (3AC), allowing it to increase its claim against FTX from $120 million to $1.53 billion. The ruling came despite FTX’s argument that the claim amendment was too late, potentially disrupting its reorganization plan. The court found that FTX delayed record-sharing, slowing 3AC’s ability to assess its losses.

FTX, which began distributing funds to creditors last month, argued that 3AC’s expanded claim could strain resources. However, the court determined that 3AC had initially signaled the possibility of later claims. 3AC collapsed in 2022 due to poor risk management, and its legal battle against FTX remains ongoing as both firms seek to recover lost funds from their respective failures.

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Russia Possibly Using Crypto in Oil Trade to Bypass Sanctions

Russia has begun using cryptocurrencies like Bitcoin, Ether, and Tether in its oil trade with China and India, according to four sources familiar with the matter. The shift helps Russia convert yuan and rupees into rubles more efficiently, as Western sanctions restrict access to the global banking system. Although crypto remains a small portion of Russia’s $192 billion oil trade, its use is growing.

The process reportedly involves middlemen converting payments into digital assets, which are then transferred to Russian accounts and exchanged for rubles. Analysts say this follows Venezuela and Iran’s approach of using crypto to evade US financial restrictions. While Trump’s administration considers modifying sanctions on Russia, sources say crypto will likely remain part of its trade strategy regardless of policy shifts.

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Data of the Day

US Bitcoin ETFs have erased most of their 2025 gains, as cumulative inflows have dropped to just $35.2 billion, the lowest since January 2. The funds saw only five days of positive inflows in February and one so far in March, reflecting weak demand. Analysts suggest that the initial wave of Bitcoin ETF investors is fully allocated, requiring new market catalysts to drive inflows.

While Bitcoin's price has rebounded 10% this week, ETF funds continue to log net-negative outflows, signaling a lack of fresh investment. Meanwhile, asset managers are shifting focus to altcoin ETFs, with proposals for Polkadot, AVAX, and HBAR-based funds gaining traction. Industry experts believe that Litecoin, XRP, Solana, and Dogecoin ETFs are the most likely to receive regulatory approval next.

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More Breaking News

• World Liberty Financial raised $550M in its latest token sale, selling 25% of WLFI’s supply, with 63% still planned for future public sales.
• A proposal to reform Solana’s high staking inflation failed after validators overwhelmingly rejected the SIMD-0228 governance vote on a dramatic final day.
• ZKsync canceled its Ignite liquidity rewards program, shifting focus to expanding its Elastic Network of interconnected ZK chains for greater scalability.
• Rep. Gerald Connolly urged the U.S. Treasury to halt Trump's strategic Bitcoin reserve plan, citing conflicts of interest and potential misuse of funds.
• Kaito AI and its founder Yu Hu’s X accounts were hacked, with attackers attempting to manipulate KAITO token prices for profit through false claims.
• Goldman Sachs acknowledged crypto for the first time in its annual shareholder letter, highlighting blockchain’s growing role in finance and competition.
• VanEck has filed for an Avalanche ETF with the SEC, aiming to offer direct exposure to AVAX's price performance amid growing crypto interest.
• Cathie Wood’s Ark Invest purchased an additional $5.2M in Coinbase shares, continuing its aggressive accumulation strategy despite recent stock declines.

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