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In a message on his Telegram channel recently recounting the episode, Durov wrote: "I lost my company and my home, but would do it again – without hesitation." The news also helped traders look past another report showing decades-high inflation and shake off some of the volatility from recent sessions. The Bureau of Labor Statistics' February Consumer Price Index (CPI) this week showed another surge in prices even before Russia escalated its attacks in Ukraine. The headline CPI — soaring 7.9% over last year — underscored the sticky inflationary pressures reverberating across the U.S. economy, with everything from groceries to rents and airline fares getting more expensive for everyday consumers. Either way, Durov says that he withdrew his resignation but that he was ousted from his company anyway. Subsequently, control of the company was reportedly handed to oligarchs Alisher Usmanov and Igor Sechin, both allegedly close associates of Russian leader Vladimir Putin. Under the Sebi Act, the regulator has the power to carry out search and seizure of books, registers, documents including electronics and digital devices from any person associated with the securities market. The Russian invasion of Ukraine has been a driving force in markets for the past few weeks.
from CN