Andrei Grachev of DWF Labs Purchases $500,000 Worth of Toncoin to Support Detained Telegram Founder Pavel Durov

Andrei Grachev, managing partner of Web3 market maker DWF Labs, has purchased $500,000 worth of Toncoin to express support for Telegram founder Pavel Durov

Web3 market maker DWF Labs’ managing partner Andrei Grachev has purchased $500,000 worth of Toncoin (CRYPTO: TON) to support Telegram founder Pavel Durov, who was recently detained in France.

Grachev announced his decision on X (NYSE:TWTR) (formerly Twitter), adding that this was his way of showing solidarity with Durov during this challenging time.

Grachev joins other influential personalities in the crypto fraternity who have been extending their support for Durov’s release through the hashtag #FreePavel.

Grachev’s words during the broadcast highlighted that purchasing Toncoin is a vote in favor of the TON ecosystem and support of decentralized and censorship-resistant technology.

It is important to note that Grachev bought the company's shares prior to the news of Durov’s arrest, which led to a 20% loss in the token’s value.

Following the news, the token hit a low of $5.249, with a panic sell-off that saw 24-hour trading volume increase by 892% to hit $2.48 billion. However, the asset has since recovered, and the last price was $5.864, largely attributed to moves such as acquisitions.

Crypto Community Rallies Behind Durov, Calls Arrest an Attack on Free Speech

The crypto community has backed Durov with people arguing that his arrest was a way of trying to pressure him into agreeing to censor Telegram on behalf of the government.

Many voices also, including the representative of the popular Telegram game Hamster Kombat, have demanded the release of Durov, citing the attack on freedom of speech.

The TON Blockchain itself has come out with a statement in support of Durov, where they reiterated their stances on decentralization and the freedom of speech.

The network insisted that all their services are up and running amid the situation, calling on the community to stay strong.

Overall, the crypto community has been rather supportive of Durov in his pursuit of freedom within the internet space. However, some have raised concerns over the decentralization of TON, noting that several big holders own the majority of the tokens.

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