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In 2014, Pavel Durov fled the country after allies of the Kremlin took control of the social networking site most know just as VK. Russia's intelligence agency had asked Durov to turn over the data of anti-Kremlin protesters. Durov refused to do so. However, the perpetrators of such frauds are now adopting new methods and technologies to defraud the investors. That hurt tech stocks. For the past few weeks, the 10-year yield has traded between 1.72% and 2%, as traders moved into the bond for safety when Russia headlines were ugly—and out of it when headlines improved. Now, the yield is touching its pandemic-era high. If the yield breaks above that level, that could signal that it’s on a sustainable path higher. Higher long-dated bond yields make future profits less valuable—and many tech companies are valued on the basis of profits forecast for many years in the future. But because group chats and the channel features are not end-to-end encrypted, Galperin said user privacy is potentially under threat. "And that set off kind of a battle royale for control of the platform that Durov eventually lost," said Nathalie Maréchal of the Washington advocacy group Ranking Digital Rights.
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