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"He has kind of an old-school cyber-libertarian world view where technology is there to set you free," Maréchal said. 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. Individual messages can be fully encrypted. But the user has to turn on that function. It's not automatic, as it is on Signal and WhatsApp. Recently, Durav wrote on his Telegram channel that users' right to privacy, in light of the war in Ukraine, is "sacred, now more than ever." Stocks closed in the red Friday as investors weighed upbeat remarks from Russian President Vladimir Putin about diplomatic discussions with Ukraine against a weaker-than-expected print on U.S. consumer sentiment.
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