Today in crypto, Pepe flips Uniswap’s UNI token and hits a new all-time high, Pavel Durov, the founder of Telegram, was reportedly questioned in a Paris court for the first time on Friday, Dec. 6, regarding a legal case involving allegations of the messenger app facilitating criminal activity, and Coffeezilla has called out “insane headlines” around the “Hawk Tuah” memecoin launch.
Pepe hits new all-time high
The Pepe memecoin hit a new all-time high and flipped Uniswap’s UNI token in terms of market capitalization on Dec. 7, as memecoins continue to capture investor attention.
According to data from CoinMarketCap, Pepe recorded 16.8% gains over the past 24 hours and managed to surge by approximately 26% over the past seven days.
Pepe now boasts an impressive market capitalization of over $11 billion and has grown by roughly 18x since the start of 2024.
The frog-themed memecoin experienced a historic rally during November 2024, along with many other cryptocurrencies, following the electoral victory of Donald Trump on Nov. 5.
Telegram founder Pavel Durov questioned in Paris court for first time: Report
Durov appeared in a Parisian court at 10 am CET on Dec. 6, alongside his lawyers David-Olivier Kaminski and Christophe Ingrain.
An anonymous source familiar with the matter told the Agence France-Presse (AFP) that the questioning focused on the allegations tied to Telegram’s potential use for illicit transactions.
When asked about the legal proceedings, Durov reportedly told the AFP that he “trusts the French justice” system but refused to elaborate on the case.
The Telegram founder’s legal issues began on Aug. 24, when he was temporarily arrested at Le Bourget airport in Paris.
Emmanuel Macron denies claims he invited Durov to France shorts. Source: Cointelegraph YouTube
He was released after posting a $6 million bail but remains restricted from leaving France until March 2025. French prosecutors accused Durov of running a platform that allegedly enables illegal activities, citing preliminary charges announced on Aug. 28.
Industry insiders are worried that the case against Durov raises alarming concerns for privacy-preserving Web3 technologies.
Parquet de Paris, the Paris prosecutor’s office, issued an official statement of preliminary charges against Durov on Aug. 28, accusing the Telegram founder of facilitating a platform that enables illicit transactions. If convicted, Durov could face up to 10 years in prison and a fine of €500,000 ($550,000).
Coffeezilla calls out “insane headlines” about Hawk Tuah memecoin
YouTube investigator Stephen Findeisen, better known as “Coffeezilla,” has called for an end to the spread of misleading headlines about viral influencer Hailey Welch, also known as “Hawk Tuah,” following the controversial launch of her memecoin, HAWK.
“Can yall stop these insane headlines. She didn’t rug for 500M and she didn’t profit $50M,” Coffezilla said in a Dec. 6 X post to his 638,900 followers.
Coffeezilla claimed that the team behind the memecoin “presold a few million” to strategic advisers who allegedly “sold early,” before the tokens “got sniped.”
It comes after the Dec. 5 launch of Welch’s Hawk Tuah memecoin sparked outrage across social media as the newly launched token briefly pumped and then dumped rapidly following a controversial deployment involving allegations of snipers and insider wallets.
Since then, rumors have spread online, from lawsuits to claims of alleged profits from the memecoin, most of which Coffeezilla has said is misinformation.
“Lots to criticize here and I do, but let’s stay to what we know. Team made a few million,” CoffeeZilla said while reiterating the “exact amount” is unknown.