"The argument from Telegram is, 'You should trust us because we tell you that we're trustworthy,'" Maréchal said. "It's really in the eye of the beholder whether that's something you want to buy into." Although some channels have been removed, the curation process is considered opaque and insufficient by analysts. In 2018, Russia banned Telegram although it reversed the prohibition two years later. 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. "Your messages about the movement of the enemy through the official chatbot … bring new trophies every day," the government agency tweeted.
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