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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%. If you initiate a Secret Chat, however, then these communications are end-to-end encrypted and are tied to the device you are using. That means itโ€™s less convenient to access them across multiple platforms, but you are at far less risk of snooping. Back in the day, Secret Chats received some praise from the EFF, but the fact that its standard system isnโ€™t as secure earned it some criticism. If youโ€™re looking for something that is considered more reliable by privacy advocates, then Signal is the EFFโ€™s preferred platform, although that too is not without some caveats. On February 27th, Durov posted that Channels were becoming a source of unverified information and that the company lacks the ability to check on their veracity. He urged users to be mistrustful of the things shared on Channels, and initially threatened to block the feature in the countries involved for the length of the war, saying that he didnโ€™t want Telegram to be used to aggravate conflict or incite ethnic hatred. He did, however, walk back this plan when it became clear that they had also become a vital communications tool for Ukrainian officials and citizens to help coordinate their resistance and evacuations. At the start of 2018, the company attempted to launch an Initial Coin Offering (ICO) which would enable it to enable payments (and earn the cash that comes from doing so). The initial signals were promising, especially given Telegramโ€™s user base is already fairly crypto-savvy. It raised an initial tranche of cash โ€“ worth more than a billion dollars โ€“ to help develop the coin before opening sales to the public. Unfortunately, third-party sales of coins bought in those initial fundraising rounds raised the ire of the SEC, which brought the hammer down on the whole operation. In 2020, officials ordered Telegram to pay a fine of $18.5 million and hand back much of the cash that it had raised. Telegram has become more interventionist over time, and has steadily increased its efforts to shut down these accounts. But this has also meant that the company has also engaged with lawmakers more generally, although it maintains that it doesnโ€™t do so willingly. For instance, in September 2021, Telegram reportedly blocked a chat bot in support of (Putin critic) Alexei Navalny during Russiaโ€™s most recent parliamentary elections. Pavel Durov was quoted at the time saying that the company was obliged to follow a โ€œlegitimateโ€ law of the land. He added that as Apple and Google both follow the law, to violate it would give both platforms a reason to boot the messenger from its stores.
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