Connect with us

Published

on

Pavel Durov, chief executive officer of Telegram, at the Mobile World Congress in Barcelona, Spain, on Tuesday, Feb. 23, 2016.

Chris Ratcliffe | Bloomberg | Getty Images

The boss of messaging platform Telegram said late Thursday that charges against him by France are “misguided,” in his first public comments since being detained in the country nearly two weeks ago.

Pavel Durov, who founded Telegram in 2013, was last week charged with enabling criminal activity on the messaging app — including dissemination of child pornography, drug trafficking, and fraud, and refusal to share information with authorities.

One of the charges — complicity in the administration of an online platform to enable an illicit transaction in an organized gang — carries a maximum penalty of 10 years’ imprisonment and a 500,000 euro ($555,833) fine if someone is found guilty after trial.

Durov, who has been in France since his arrest on Aug. 24, posted a 5 million euro bail and remains under judicial supervision. He cannot leave French territory and has to report twice weekly to a police station, prosecutors said last week.

In his first public comments on the situation, Durov said Thursday that France’s decision to detain and charge him was based on a “misguided approach.

“If a country is unhappy with an internet service, the established practice is to start a legal action against the service itself,” Telegram’s CEO and founder said in a statement posted on his Telegram account.

“Using laws from the pre-smartphone era to charge a CEO with crimes committed by third parties on the platform he manages is a misguided approach.”

“Building technology is hard enough as it is. No innovator will ever build new tools if they know they can be personally held responsible for potential abuse of those tools,” he added.

Durov said that he was interviewed by French police for four days after arriving in Paris from Baku, the capital of Azerbaijan, last month.

“I was told I may be personally responsible for other people’s illegal use of Telegram, because the French authorities didn’t receive responses from Telegram,” he said, adding this was “surprising” as Telegram has an official representative in the EU that accepts and replies to requests.

The social media platform had already been working with French authorities to “establish a hotline with Telegram to deal with with the threat of terrorism in France,” its founder said. Durov, a citizen of the United Arab Emirates, added that he was a “frequent guest at the French consulate in Dubai.”

Prior to Durov’s arrival in France, there was speculation that he was due to meet with Russian President Vladimir Putin in Azerbaijan.

However, the Kremlin’s official spokesperson told the BBC last week that a meeting never took place.

Telegram allegations could be faced by other social media apps, analyst says

The 39-year-old Russian-born billionaire has a net worth of about $15.5 billion, according to Forbes, making him the world’s 121st wealthiest person.

Telegram, the platform he co-founded, has been often marketed as an uncensored and neutral platform.

But this approach has courted controversy for the app, with numerous governments raising concerns that Telegram lacks sufficient content moderation controls to detect and remove illegal content.

Telegram is particularly popular in repressive regimes where usage of internet platforms is heavily restricted. It has also gained a reputation for being used by fraud gangs, drug dealers, and even designated terrorist organizations, which have previously used the service to claim responsibility for attacks.

For its part, Telegram has defended its moderation practices, saying last week that they were “within industry standards and constantly improving.”

 Thanks everyone for your support and love!

Last month I got interviewed by police for 4 days after arriving in Paris. I was told I may be personally responsible for other people’s illegal use of Telegram, because the French authorities didn’t receive responses from Telegram.This was surprising for several reasons: 

  1. Telegram has an official representative in the EU that accepts and replies to EU requests. Its email address has been publicly available for anyone in the EU who googles “Telegram EU address for law enforcement”. 
  2. The French authorities had numerous ways to reach me to request assistance. As a French citizen, I was a frequent guest at the French consulate in Dubai. A while ago, when asked, I personally helped them establish a hotline with Telegram to deal with the threat of terrorism in France.
  3. If a country is unhappy with an internet service, the established practice is to start a legal action against the service itself. Using laws from the pre-smartphone era to charge a CEO with crimes committed by third parties on the platform he manages is a misguided approach. Building technology is hard enough as it is. No innovator will ever build new tools if they know they can be personally held responsible for potential abuse of those tools. 

Establishing the right balance between privacy and security is not easy. You have to reconcile privacy laws with law enforcement requirements, and local laws with EU laws. You have to take into account technological limitations. As a platform, you want your processes to be consistent globally, while also ensuring they are not abused in countries with weak rule of law. We’ve been committed to engaging with regulators to find the right balance. Yes, we stand by our principles: our experience is shaped by our mission to protect our users in authoritarian regimes. But we’ve always been open to dialogue.

Sometimes we can’t agree with a country’s regulator on the right balance between privacy and security. In those cases, we are ready to leave that country. We’ve done it many times. When Russia demanded we hand over “encryption keys” to enable surveillance, we refused — and Telegram got banned in Russia. When Iran demanded we block channels of peaceful protesters, we refused — and Telegram got banned in Iran. We are prepared to leave markets that aren’t compatible with our principles, because we are not doing this for money. We are driven by the intention to bring good and defend the basic rights of people, particularly in places where these rights are violated.

All of that does not mean Telegram is perfect. Even the fact that authorities could be confused by where to send requests is something that we should improve. But the claims in some media that Telegram is some sort of anarchic paradise are absolutely untrue. We take down millions of harmful posts and channels every day. We publish daily transparency reports (like this or this ). We have direct hotlines with NGOs to process urgent moderation requests faster.

However, we hear voices saying that it’s not enough. Telegram’s abrupt increase in user count to 950M caused growing pains that made it easier for criminals to abuse our platform. That’s why I made it my personal goal to ensure we significantly improve things in this regard. We’ve already started that process internally, and I will share more details on our progress with you very soon.

I hope that the events of August will result in making Telegram — and the social networking industry as a whole — safer and stronger. Thanks again for your love and memes 

Continue Reading

Technology

Stablecoin issuer Circle applies for a national bank charter

Published

on

By

Stablecoin issuer Circle applies for a national bank charter

Traders work on the floor at the New York Stock Exchange (NYSE), on the day of Circle Internet Group’s IPO, in New York City, U.S., June 5, 2025.

Brendan McDermid | Reuters

Stablecoin issuer Circle Internet Group has applied for a national trust bank charter, moving forward on its mission to bring stablecoins into the traditional financial world after the firm’s big market debut this month, CNBC confirmed.

Shares rose 1% after hours.

If the Office of the Comptroller of the Currency grants the bank charter, Circle will establish the First National Digital Currency Bank, N.A. Under the charter, Circle, which issues the USDC stablecoin, will also be able to offer custody services in the future to institutional clients for assets, which could include representations of stocks and bonds on a blockchain network.

Reuters first reported on Circle’s bank charter application.

There are no plans to change the management of Circle’s USDC reserves, which are currently held with other major banks.

Anchorage Digital is the only other crypto company to obtain such a license.

Circle’s move comes after a wildly successful IPO and debut trading month on the public markets. Shares of the company are up 484% in June. The company is also benefiting from a wave of optimism after the Senate’s passage of the GENIUS Act, which would give the U.S. a regulatory framework for stablecoins.

Having a federally regulated trust charter would also help Circle meet requirements under the GENIUS Act.

“Establishing a national digital currency trust bank of this kind marks a significant milestone in our goal to build an internet financial system that is transparent, efficient and accessible,” Circle CEO Jeremy Allaire said in a statement shared with CNBC. “By applying for a national trust charter, Circle is taking proactive steps to further strengthen our USDC infrastructure.”

“Further, we will align with emerging U.S. regulation for the issuance and operation of dollar-denominated payment stablecoins, which we believe can enhance the reach and resilience of the U.S. dollar, and support the development of crucial, market neutral infrastructure for the world’s leading institutions to build on,” he said.

Don’t miss these cryptocurrency insights from CNBC Pro:

Continue Reading

Technology

Meta shares hit all-time high as Mark Zuckerberg goes on AI hiring blitz

Published

on

By

Meta shares hit all-time high as Mark Zuckerberg goes on AI hiring blitz

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., during the Meta Connect event on Wednesday, Sept. 25, 2024.

Bloomberg | Bloomberg | Getty Images


Meta shares hit a record high on Monday, underscoring investor interest in the company’s new AI superintelligence group.

The company’s shares reached $747.90 during midday trading, topping Meta’s previous stock market record in February when it began laying off the 5% of its workforce that it deemed “low performers.”

Meta joins Microsoft and Nvidia among tech megacaps that have reached new highs of late, all closing at records Monday. Apple, Amazon, Alphabet and Tesla remain below their all-time highs reached late last year or early this year.

Meta CEO Mark Zuckerberg has been on an AI hiring blitz amid fierce competition with rivals such as OpenAI and Google parent Alphabet. Earlier in June, Meta said it would hire Scale AI CEO Alexandr Wang and some of his colleagues as part of a $14.3 billion investment into the executive’s data labeling and annotation startup.

The social media company also hired Nat Friedman and his business partner, Daniel Gross, the chief of Safe Superintelligence, an AI startup with a valuation of $32 billion, CNBC reported on June 19. Meta’s attempts to buy Safe Superintelligence were rebuffed by the startup’s founder and AI expert Ilya Sutskever, the report noted.

Wang and Friedman are the leaders of Meta’s new Superintelligence Labs, tasked with overseeing the company’s artificial intelligence foundation models, projects and research, a person familiar with the matter told CNBC. The term superintelligence refers to technology that exceeds human capability.

Bloomberg News first reported about the new superintelligence unit.

Meta has also snatched AI researchers from OpenAI. Sam Altman, OpenAI’s CEO, said during a podcast that Meta was offering signing bonuses as high as $100 million.

Andrew Bosworth, Meta’s technology chief, spoke about the social media company’s AI hiring spree during a June 20 interview with CNBC’s “Closing Bell Overtime,” saying that the talent market is “really incredible and kind of unprecedented in my 20-year career as a technology executive.”

WATCH: Meta’s AI talent spending spree

Meta escalated talent war with OpenAI

Continue Reading

Technology

Joby Aviation stock pops 12% after delivering first flying taxi to UAE

Published

on

By

Joby Aviation stock pops 12% after delivering first flying taxi to UAE

An electric air taxi by Joby Aviation flies near the Downtown Manhattan Heliport in Manhattan, New York City, U.S., November 12, 2023. 

Roselle Chen | Reuters

Joby Aviation stock soared about 12% as the flying air taxi maker got closer to launching a service in the United Arab Emirates.

The electric vertical takeoff and landing, or eVTOL, company said Monday that it delivered its first aircraft to the UAE and has completed piloted flight tests as it readies for a 2026 launch in the region.

“Our flights and operational footprint in Dubai are a monumental step toward weaving air taxi services into the fabric of daily life worldwide,” said founder and CEO JoeBen Bevirt in a release. He called the Middle East nation a “launchpad for a global revolution in how we move.”

Joby’s planned launch in the UAE was announced in February 2024 as part of an agreement with Dubai’s Road and Transport Authority. The deal included exclusive rights to conduct air taxi service in Dubai for six years.

Read more CNBC tech news

As part of the project, Joby said in November that it began building one vertiport at Dubai International Airport, with three additional locations slated for Palm Jumeirah and Dubai’s downtown and marina. Joby also announced an air taxi agreement with three Abu Dhabi government departments in 2024.

The California-based company has made other expansion moves in the Middle East. Shares jumped earlier this month after Saudi Arabian firm Abdul Latif Jameel announced a roughly $1 billion investment for up to 300 eVTOLs. The firm participated in Joby’s Series C funding round.

Joby shares have surged more than 32% this year, swelling its market capitalization to over $9 billion.

Demand for air taxis, which take off and land similar to helicopters, has gained momentum in recent years. The service faces regulatory and safety hurdles but has been lauded for its ability to cut traffic congestion and slash emissions.

Earlier this month, President Donald Trump signed an executive order that included a pilot program for testing electric air taxis.

WATCH: Joby Aviation shares pop on Saudi Investment

Joby Aviation shares pop on Saudi Investment

Continue Reading

Trending