Toncoin, a cryptocurrency tied to Telegram, shed more than 20% of its market value after the weekend arrest of Telegram co-founder CEO Pavel Durov in Paris.
The big picture: It since has experienced a slight recovery, and currently is the world's 10th largest crytpocurrency with around a $14.2 billion market cap.
Catch up quick: Toncoin officially is separate from Telegram, but traders clearly see a relationship.
Telegram began work on some technology, but the SEC slapped it down, so it open sourced its work.
TON, or The Open Network, picked it up and finished the work, released Toncoin and Telegram integrated with it.