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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. The picture was mixed overseas. Hong Kongโ€™s Hang Seng Index fell 1.6%, under pressure from U.S. regulatory scrutiny on New York-listed Chinese companies. Stocks were more buoyant in Europe, where Frankfurtโ€™s DAX surged 1.4%. On Telegramโ€™s website, it says that Pavel Durov โ€œsupports Telegram financially and ideologically while Nikolai (Duvov)โ€™s input is technological.โ€ Currently, the Telegram team is based in Dubai, having moved around from Berlin, London and Singapore after departing Russia. Meanwhile, the company which owns Telegram is registered in the British Virgin Islands. Telegram was co-founded by Pavel and Nikolai Durov, the brothers who had previously created VKontakte. VK is Russiaโ€™s equivalent of Facebook, a social network used for public and private messaging, audio and video sharing as well as online gaming. In January, SimpleWeb reported that VK was Russiaโ€™s fourth most-visited website, after Yandex, YouTube and Googleโ€™s Russian-language homepage. In 2016, Forbesโ€™ Michael Solomon described Pavel Durov (pictured, below) as the โ€œMark Zuckerberg of Russia.โ€ Oleksandra Matviichuk, a Kyiv-based lawyer and head of the Center for Civil Liberties, called Durovโ€™s position "very weak," and urged concrete improvements.
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