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But because group chats and the channel features are not end-to-end encrypted, Galperin said user privacy is potentially under threat. At the start of 2018, the company attempted to launch an Initial Coin Offering (ICO) which would enable it to enable payments (and earn the cash that comes from doing so). The initial signals were promising, especially given Telegram’s user base is already fairly crypto-savvy. It raised an initial tranche of cash – worth more than a billion dollars – to help develop the coin before opening sales to the public. Unfortunately, third-party sales of coins bought in those initial fundraising rounds raised the ire of the SEC, which brought the hammer down on the whole operation. In 2020, officials ordered Telegram to pay a fine of $18.5 million and hand back much of the cash that it had raised. But the Ukraine Crisis Media Center's Tsekhanovska points out that communications are often down in zones most affected by the war, making this sort of cross-referencing a luxury many cannot afford. "He has to start being more proactive and to find a real solution to this situation, not stay in standby without interfering. It's a very irresponsible position from the owner of Telegram," she said. 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.
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