This figure met economists’ expectations and signals that monetary policy efforts across Europe may finally be achieving their intended impact of taming inflation.

Services Inflation on the Rise

Among the key drivers, services inflation stood out in June. This category rose to 3.3%, up from 3.2% in May, although still below April’s 4% level. This uptick is especially relevant as services are a core component closely monitored by the ECB.

Core Inflation Holds Steady

Core inflation—which strips out volatile categories like energy, food, alcohol, and tobacco—remained flat at 2.3% in June. The stable figure reflects broader price pressures beginning to stabilize across the euro area.

Diverging Trends in Major Eurozone Economies

Inflation data from key euro area economies showed mixed signals. Germany saw a slight easing in harmonized inflation, France and Spain experienced modest increases, while Italy remained unchanged. Collectively, these variations helped push the overall euro area figure toward the ECB’s 2% benchmark.

A Cautious Outlook on Rates

Given the current inflation environment, analysts increasingly expect the ECB to hold interest rates steady at its next meeting on July 25. However, a potential 25 basis-point cut is still on the table for September.

ECB Chief Economist Philip Lane reinforced this outlook, stating:
“The cycle of bringing inflation down from 10% to 2% is done. But going forward, we must remain alert to ensure any deviation doesn’t affect the medium-term outlook.”
His comments reflect a continued data-dependent approach to monetary policy.

Risks Remain on the Horizon

Despite meeting the inflation target, economists warn of lingering risks that could derail the disinflation process. These include persistent services inflation, volatility in oil prices driven by geopolitical tensions in the Middle East, and potential U.S. trade tariffs.

Inflation Breakdown for June 2025

According to the Eurostat flash estimate, here’s how the components of inflation fared in June:

• Services: 3.3% (May: 3.2%)

• Food, alcohol & tobacco: 3.1% (May: 3.2%)

• Non-energy industrial goods: 0.5% (May: 0.6%)

• Energy: -2.7% (May: -3.6%)

When Will Final Data Be Released?

Eurostat is set to publish the full inflation dataset for June on July 17, 2025. This release will be closely watched by policymakers and markets alike as the ECB prepares its next move.

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In the world of cryptocurrency, the security concerns of millionaires are rapidly increasing. The data breach at Coinbase, in particular, has created a new sense of danger in the industry. Hackers obtained users’ names, addresses, ID photos, and account balances. Such information is sufficient for malicious actors to select targets. Those with significant crypto assets are now prioritizing not only their digital security but also their physical safety. 

As a result, crypto investors are hiring professional security teams to protect themselves and their families, just as they secure their cold wallets. Experts emphasize, “You must protect not only your portfolio but also your personal safety.” Indeed, owning millions of dollars’ worth of cryptocurrency comes with significant risks. 

Physical Attacks and Kidnapping Threats Become Reality 

The security issues in the crypto world are no longer confined to the online realm; they have now spilled into the physical world. The Coinbase data breach provided attackers with personal information, enabling them to target investors who could be attacked on the street or in front of their homes. 

For example, Ledger SAS founder David Balland was kidnapped along with his partner last January. Balland was seriously injured during the attack, and the incident caused significant ripples in the industry. Following this, the daughter and granddaughter of Paymium’s CEO were targeted for kidnapping in Paris. Although the plan failed, it heightened the industry’s security concerns. 

France’s Interior Minister intervened, announcing the establishment of a dedicated emergency police hotline for the crypto industry. Additionally, elite units were formed to provide security briefings and home protection assessments for industry executives, enabling faster and more effective responses to physical attacks. 

Crypto Companies and Investors Make Significant Security Investments 

Crypto firms are taking security risks very seriously. Coinbase spent $6.2 million on the security of its CEO, Brian Armstrong—an amount surpassing expenditures by JPMorgan, Goldman Sachs, and Nvidia during the same period. Other companies, such as Robinhood and Circle, have also allocated substantial budgets for their executives’ safety. 

Security measures are not limited to physical protection. Companies conduct real-time monitoring on social media and other digital platforms to prevent location leaks, making it harder for potential attackers to reach their targets. Additionally, comprehensive solutions such as armored vehicles, 24/7 protection, and threat assessments are offered to clients. Security firms like Infinite Risks International clean up the digital footprints of crypto investors and provide early warnings against potential threats. 

According to data recorded by prominent Bitcoin security advocate Jameson Lopp, more than 20 physical attacks have occurred worldwide this year. These incidents are not limited to Europe but are also happening in regions like the Americas and Asia. Kidnappings, extortions, and fraud cases are on the rise, forcing everyone in the industry to enhance both online and offline security measures. 

The crypto community is also reflecting security concerns in its events. For instance, the annual EthCC conference in Cannes implemented significantly stricter security measures this year compared to last year. French police, special forces, and private security firms collaborated to provide comprehensive protection at the event. 

However, despite these measures, some investors are avoiding travel to countries like France due to security risks. This situation underscores the magnitude of the global security challenges facing the industry. 

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Masked Men Tried to Kidnap Crypto CEO’s Daughter

In a shocking attempt, masked assailants tried to kidnap the daughter of a French crypto CEO. However, thanks to the resistance of the mother and intervention from bystanders, the kidnapping was thwarted.

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While the girl is reportedly unharmed, her mother suffered severe blood loss and is currently receiving treatment. One of the attackers dropped his weapon, which a nearby citizen picked up and used to defend against the assailants — likely saving lives in the process.

Third Attack in France: Crypto Wealth Under Siege

This is now the third crypto-related kidnapping attempt in France within just a few months. Earlier this year, the CEO of Ledger, a leading hardware wallet company, was abducted and had his finger severed in a gruesome ransom plot.

Why Are Crypto Millionaires Always the Target?

Despite crypto billionaires not ranking high on global wealth lists, they are often in the spotlight due to their online presence and lifestyle. In contrast, traditional “old money” wealth tends to avoid attention, staying out of the public eye.

This visibility makes crypto figures prime targets for organized crime, especially since digital assets offer little physical protection. Experts warn that personal security should become a top priority for public crypto figures.

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“We Don’t Trade Privacy for Market Share”

“Telegram would rather exit a market than undermine encryption with backdoors,” Durov wrote.

He stressed: “Unlike some competitors, we don’t trade privacy for market share.”

Encryption Backdoors Are Security Threats

Durov warned that backdoors can be abused by bad actors — not just law enforcement.

“It’s technically impossible to guarantee that only the police can access a backdoor,” he stated.

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Moreover, such regulations would fail to deter criminal activity, as users would simply move to lesser-known apps and VPNs to remain anonymous.

No Private Messages Ever Disclosed

Durov highlighted that while Telegram may comply with court orders for IP addresses and phone numbers of criminal suspects, it has never disclosed a single private message in its 12-year history.

Despite France rejecting a proposal for hidden access to private messages in March, Durov said “the battle is far from over.”

He pointed to the EU’s “ProtectEU” initiative, which seeks to build technological means for law enforcement to access private data by 2026 — a proposal that privacy advocates claim violates cybersecurity principles.

Durov concluded: “No country is immune to the slow erosion of freedoms. Every day, those freedoms come under attack — and every day, we must defend them.”

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France’s Move to Strengthen the Blockchain Ecosystem

France’s state-backed investment bank Bpifrance aims to bolster local crypto startups by investing in projects focused on decentralized finance (DeFi), staking, tokenization, and artificial intelligence.

In a March 27 press release, Bpifrance stated that this plan, supported by the French Ministry of Economy and Finance, is designed to “promote emerging technologies and strengthen France’s blockchain ecosystem.”

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Bpifrance Deputy CEO Arnaud Caudoux emphasized:

“We believe blockchain companies will play an increasingly important role in the coming years, and we want to enhance France’s competitiveness in the digital assets sector.”

He also noted the growing U.S. crypto strategy, stating, “The U.S. is really accelerating its crypto strategy, so this move is even more important for us.”

Bpifrance’s Previous Crypto Investments

Bpifrance highlighted its decade-long involvement in the blockchain sector, having invested over €150 million ($162 million) in various projects.

Notably, the bank helped fund the crypto hardware wallet manufacturer Ledger in 2014. Additionally, in 2022, Bpifrance tested token-based investments by purchasing Morpho’s DeFi lending tokens, which have since become the 12th largest DeFi protocol with a total value of $3.24 billion, according to DefiLlama.

France Expands Its Crypto Investments

Crypto projects often raise capital through token-based investments. PitchBook estimates that crypto venture capital deals could exceed $18 billion in 2025, up from $13.6 billion in 2024.

Bpifrance’s initiative reflects France’s increasing interest in the blockchain space and its goal of becoming more competitive in the global crypto ecosystem.

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According to the AFP news agency, Durov left France for Dubai on the morning of March 15 after obtaining permission from French authorities to exit the European country.

“Standing with Pavel Durov”

TON Society stated, “We have stood by Pavel since his arrest on August 24, 2024.” The statement continued:

“Pavel’s unwavering commitment to free speech and transparency, even under the most challenging circumstances, is a powerful reminder of the importance of standing by your principles, even when it is politically and personally costly.”

French Government Condemned!

Previously, TON Society had strongly criticized the French government’s decision to detain Durov, urging his immediate release as the founder of Telegram.

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In a letter dated August 27, they wrote:

“The arrest of Telegram founder Pavel Durov is a direct attack on a fundamental human right — the freedom of expression for all.”

The organization also called on international bodies such as the United Nations (UN), the Council of Europe (CoE), the Organization for Security and Cooperation in Europe (OSCE), and the European Union (EU) to intervene and demand Durov’s release.

Macron Denies Political Motives Behind Durov’s Arrest

Following Durov’s arrest by French law enforcement, French President Emmanuel Macron denied that the move was politically motivated. Macron insisted France remains committed to free speech, although his remarks were met with skepticism from both the crypto industry and free speech advocates.

In a subsequent press conference, Macron also denied inviting Durov to France, despite widespread backlash from the crypto community.

Meanwhile, Chris Pavlovski, CEO of the free speech video platform Rumble, confirmed that he safely left Europe shortly after Durov‘s detention. In an August 25 post on X, Pavlovski stated that the French government had also threatened Rumble and condemned authorities for cracking down on free speech.

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Social media previously claimed that Ledger co-founder Eric Larchevêque was the kidnapped person, but he was later confirmed to be safe. Meanwhile, Ledger has yet to make an official statement.

“There have been numerous unconfirmed rumors floating around that Ledger’s co-founder/executive has been kidnapped for ransom. We have no reliable information on what happened, but Ledger’s silence is setting off my spidey senses,” Jameson Lopp, Bitcoin security expert and co-founder of BTC storage solutions provider Casa, told X.

Ledger is the largest producer of bitcoin (BTC) and crypto hardware wallets. In 2023, the company was valued at around $1.4 billion after raising $109 million.

Kidnappings of crypto assets are becoming increasingly common. Several attacks have occurred this year alone, Cybernews reported. At least one of these was recorded in France, where the father of a 56-year-old crypto influencer was kidnapped in an attempt to demand ransom. However, the criminals were unsuccessful, as the police managed to track down the kidnapped man.

According to a public database of physical attacks in the crypto world, six cases of kidnapping or robbery were recorded in the first three weeks of this year. If Balland’s kidnapping is confirmed, it would be the seventh. For comparison, a total of 22 cases were recorded in all of 2024.

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Pavel Durov, the founder of Telegram, was questioned for the first time in Paris regarding a legal case involving allegations that the messaging app facilitated criminal activities.

On December 6, Durov appeared in court in Paris at 10 am CET, accompanied by his lawyers, David-Olivier Kaminski and Christophe Ingrain. An anonymous source familiar with the matter told Agence France-Presse (AFP) that the questioning focused on allegations related to Telegram’s potential use for illicit transactions.

Responding to questions about the legal proceedings, Durov told AFP that he “trusts the French justice system” but refused to provide details about the case.

The Telegram founder’s legal troubles began on August 24 when he was temporarily detained at Le Bourget airport in Paris. Released after posting a $6 million bail, Durov has been restricted from leaving France until March 2025.

French prosecutors accused Durov of operating a platform allegedly facilitating illegal activities, referencing preliminary charges announced on August 28. Industry experts view the case against Durov as a concerning development for privacy-preserving Web3 technologies.

Summary of the Legal Case Against Durov

The Paris prosecutor’s office issued an official statement of preliminary charges against Durov on August 28, accusing the Telegram founder of operating a platform that facilitates illegal transactions.

If convicted, Durov could face up to 10 years in prison and a €500,000 ($550,000) fine. According to the prosecutor’s office, France launched a preliminary investigation into Telegram in February 2024, which escalated to a judicial inquiry on July 8, one month before Durov’s arrest in Paris.

In another development, anonymous sources told The Wall Street Journal that Durov’s phone was hacked in 2017, a year before his meeting with French President Emmanuel Macron. Industry experts had previously warned that Durov’s detention could have troubling implications for the cryptocurrency world.

Durov’s Arrest Sparks Concerns Over Web3 Privacy

According to Vyara Savova, senior policy lead at the European Crypto Initiative, the case bears alarming similarities to the arrest of Tornado Cash developer Alexey Pertsev.

Vyara Savova: “Some parallels with Pertsev’s arrest and sentence can already be made, such as that these are actions of individual member states that do not represent a procedure brought up by the EU or its executive body, the European Commission.”

Nikolay Denisenko, co-founder and chief technology officer of the financial app Brighty, stated that the arrest could signal a troubling assault on developers of privacy-preserving technologies.

Nikolay Denisenko: “This of course raises concerns about potential government overreach and the broader implications for digital privacy.”

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“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,” Durov said, referencing Iran and Russia as two instances. “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.”

Durov was arrested at a Paris airport last month; before then, a French court issued charges. Charges of “complicity in the spread of sexual images of children and other crimes such as drug trafficking on the messaging app” were leveled against him. The arrest was a part of a larger cybercrime probe looking into Telegram’s claimed involvement in drug trafficking, child pornography, and money laundering enabled by its cryptographic tools and services.

Durov was released by French officials under “judicial supervision,” which mandates the Telegram creator remain in France. The most often used messaging app made a positive portion of its income from crypto-related operations. Recent Financial Times analysis shows that as of 2023, it possessed $400 million in digital assets. Durov claims Telegram is valued at least $30 billion.

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According to a statement issued by the Tribunal Judiciaire de Paris, Durov has been arrested as part of a broad cybercrime investigation, including claims of offering “cryptology” services and tools.

“Pavel Durov, founder and CEO of instant messaging and platform Telegram, was arrested at Le Bourget airport in the outskirts of Paris on Saturday, August 24, 2024, and then taken into police custody at 8 p.m.,” the statement said. “This measure comes in the context of a judicial investigation opened on July 8, 2024, following a preliminary inquiry initiated by Section J3-JJUNALCO (Fight against Cybercrime) of the Paris Public Prosecutor’s Office.”

The declaration continued, “A judicial investigation was opened against a person unnamed on charges of… providing cryptology services aiming to ensure confidentiality without a certified declaration, providing a cryptology tool not solely ensuring authentication or integrity monitoring without a prior declaration, and  importing a cryptology tool ensuring authentication or integrity monitoring without a prior declaration.”

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Included among several other claimed allegations were complicity in “possessing pornographic images of minors” and “laundering of the proceeds derived from organized groups’s offenses and crimes.”

The executive can be held until August 28, according to the release; Durov is under interrogation as part of the cybercrime probe.

Among the few influential people in the crypto space who have endorsed Durov are Elon Musk, Ethereum creator Vitalik Buterin (whose view is based on knowledge so far), TRON founder Justin Sun, and Solana co-founder Anatoly Yakovenko.

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