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In this regard, Sebi collaborated with the Telecom Regulatory Authority of India (TRAI) to reduce the vulnerability of the securities market to manipulation through misuse of mass communication medium like bulk SMS. Friday’s performance was part of a larger shift. For the week, the Dow, S&P 500 and Nasdaq fell 2%, 2.9%, and 3.5%, respectively. Anastasia Vlasova/Getty Images Pavel Durov, a billionaire who embraces an all-black wardrobe and is often compared to the character Neo from "the Matrix," funds Telegram through his personal wealth and debt financing. And despite being one of the world's most popular tech companies, Telegram reportedly has only about 30 employees who defer to Durov for most major decisions about the platform. And indeed, volatility has been a hallmark of the market environment so far in 2022, with the S&P 500 still down more than 10% for the year-to-date after first sliding into a correction last month. The CBOE Volatility Index, or VIX, has held at a lofty level of more than 30.
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