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French authorities can hold Pavel Durov until Aug. 28

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Pavel Durov, the founder of Telegram, has been taken into custody by French authorities as part of a broadening investigation into financial and regulatory issues.

Durov was apprehended late last week under allegations of failing to comply with regulatory requirements and other financial discrepancies. French law enforcement officials confirmed his detention, stating that it is part of a larger probe into potential violations.

The arrest of Durov, who is known for his outspoken stance on digital privacy and freedom of expression, has drawn significant attention. The French authorities have maintained that the detention is strictly related to legal matters and is not influenced by any political factors.

During a press briefing, a spokesperson for the French government clarified that the investigation into Durov is a routine procedure aimed at ensuring adherence to financial regulations. “This is a standard legal process,” the spokesperson said. “It is important to emphasize that this action is not politically motivated.”

Durov’s legal team has called for a fair and transparent process, emphasizing concerns about his rights and treatment while in custody. The team also highlighted the need for due process to ensure that all legal standards are met.

The case has stirred considerable debate among international observers and privacy advocates, who are closely monitoring developments. The outcome of the investigation could have broader implications for regulatory practices in the tech and cryptocurrency sectors.

As the investigation progresses, both Durov’s supporters and critics await further updates on the legal proceedings and any potential impacts on his business operations and public image.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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