The Dow Jones Industrial Average fell 230 points, or 0.7%. Meanwhile, the S&P 500 and the Nasdaq Composite dropped 1.3% and 2.2%, respectively. All three indexes began the day with gains before selling off. Also in the latest update is the ability for users to create a unique @username from the Settings page, providing others with an easy way to contact them via Search or their t.me/username link without sharing their phone number. "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. 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 Telegram’s user base is already fairly crypto-savvy. It raised an initial tranche of cash – worth more than a billion dollars – 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. He adds: "Telegram has become my primary news source."
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