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The arrest and subsequent indictment of billionaire Telegram CEO Pavel Durov in France is sparking a debate over whether tech executives are accountable for what happens on their platforms.
The CEO of the controversial messaging and social networking platform was charged with multiple crimes related to alleged criminal activity on the app, and he’s also facing an unrelated criminal case in Switzerland filed by his former partner.
Some in the social media and crypto industries have rallied to support Durov. The arrest is “worrying for the future of software and comms freedom in Europe,” says Ethereum founder Vitalik Buterin, though French President Emmanuel Macron has said it was “in no way a political decision.”
Nvidia cofounder and CEO Jensen Huang displays the new Blackwell GPU chip in March 2024.
Nvidia continued to top most of Wall Street’s expectations in its latest earnings report, yet it led an AI stock slump in after hours-trading late Wednesday. The semiconductor chip designer has cemented its place as the best stock of 2024 on the S&P 500, but reported delays of Nvidia’s next flagship AI chip, Blackwell, triggered investor concerns about whether it can sustain its explosive growth.
Telegram’s Durov was formally indicted Wednesday on numerous criminal charges connected to the distribution of child sexual abuse material (CSAM), selling narcotics, fraud, and money laundering. Telegram’s lax moderation and lack of serious response to European law enforcement contributed to Durov’s prosecution, French authorities said, and Forbes has previously reported that the platform is replete with AI-generated and real CSAM.
Shares of Super Micro Computer tanked by as much as 24% Wednesday after delaying its annual report, and the tech firm’s stock is also reeling from a Tuesday report from Hindenburg Research alleging financial manipulation. Super Micro has benefited from its business with chip designer Nvidia and is up more than 45% this year, but its current slump threatens those gains.
Shares of Trump Media and Technology Group, the parent company........