Data via Farside Investors
Ethereum ETFs face $590.8 million total outflow amid continuing trend
On Sept. 16, Bitcoin ETFs saw net positive flow of $12.8 million. This is a significant drop from the $263.2 million net inflow observed on Friday, Sept. 13.
Such a sharp drop is due to five of the nine tracked spot ETFs having a zero net flow on Monday. Bitwise, Ark, Invesco, Valkyrie, and Wisdom Tree all saw zero flows on Sep. 16. Grayscale’s $20.8 million outflow also contributed to the drop. While BlackRock’s IBIT saw zero flows on Friday, it recovered with a $15.8 million inflow on Monday. Fidelity and VanEck saw modest inflows.Ethereum ETFs recorded a negative flow once again after seeing net inflows of $1.5 million on Friday. Throughout September, Ethereum ETFs only had two days of positive flows. On Sept. 16, the $13.8 million outflow from Grayscale’s ETHE pushed flows deep into the red with a net outflow of $9.4 million. This brings the total outflows to $590.8 million.
Telegram, long known for its strict privacy stance, will now provide user IP addresses and phone numbers to authorities in response to legal requests, Bloomberg News reported Sept. 23.
According to the report, CEO Pavel Durov announced the change to the platform’s terms and conditions. The move is a major shift for the messaging platform, which has been criticized by authorities for allegedly being unresponsive to requests for user information, particularly in criminal investigations.
Along with the policy update, Telegram is rolling out new moderation tools, including artificial intelligence (AI) and human moderators, to help identify and remove inappropriate content from the platform. Durov also urged users to report illegal or harmful content to ensure it is promptly addressed.
Despite these changes, Telegram users still have access to various privacy features, such as end-to-end encryption, disappearing messages, and the ability to use the platform without a SIM card. The company continues to emphasize that, to date, no user messages have been disclosed to third parties, including government authorities.
The potential impact of this new approach on the platform’s popularity, particularly among those engaged in illicit activities, remains uncertain.
Durov’s legal issues
Durov’s announcement comes as he faces legal issues of his own after French authorities arrested him in late August as part of an ongoing investigation involving 12 criminal charges, including allegations of drug trafficking, child exploitation, and money laundering.
He was released after 96 hours of custody, which is the maximum period allowed under French law, and placed under judicial supervision. As part of the conditions, Durov was required to post a €6 million bail, remain in France, and report to the police twice a week.
Durov has denied the charges, and Telegram maintains that it complies with European laws, including the Digital Services Act. The company has also emphasized that the platform’s moderation is improving, though it has faced criticism for allegedly allowing criminal activities on its platform.
The arrest sparked reactions from various political and tech industry leaders, with some speculating that it was a politically motivated attack on Durov and Telegram. However, French President Emmanuel Macron dismissed any political motive behind the arrest and said it was part of an ongoing judicial investigation.