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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. Now safely in France with his spouse and three of his children, Kliuchnikov scrolls through Telegram to learn about the devastation happening in his home country. On Feb. 27, however, he admitted from his Russian-language account that "Telegram channels are increasingly becoming a source of unverified information related to Ukrainian events." Telegram was co-founded by Pavel and Nikolai Durov, the brothers who had previously created VKontakte. VK is Russia’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 Russia’s fourth most-visited website, after Yandex, YouTube and Google’s Russian-language homepage. In 2016, Forbes’ Michael Solomon described Pavel Durov (pictured, below) as the “Mark Zuckerberg of Russia.” Messages are not fully encrypted by default. That means the company could, in theory, access the content of the messages, or be forced to hand over the data at the request of a government.
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