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The next bit isnât clear, but Durov reportedly claimed that his resignation, dated March 21st, was an April Foolsâ prank. TechCrunch implies that it was a matter of principle, but itâs hard to be clear on the wheres, whos and whys. Similarly, on April 17th, the Moscow Times quoted Durov as saying that he quit the company after being pressured to reveal account details about Ukrainians protesting the then-president Viktor Yanukovych. 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 Telegramâs user base is already fairly crypto-savvy. It raised an initial tranche of cash â worth more than a billion dollars â 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. Investors took profits on Friday while they could ahead of the weekend, explained Tom Essaye, founder of Sevens Report Research. Saturday and Sunday could easily bring unfortunate news on the war frontâand traders would rather be able to sell any recent winnings at Fridayâs earlier prices than wait for a potentially lower price at Mondayâs open. Given the pro-privacy stance of the platform, itâs taken as a given that itâll be used for a number of reasons, not all of them good. And Telegram has been attached to a fair few scandals related to terrorism, sexual exploitation and crime. Back in 2015, Vox described Telegram as âISISâ app of choice,â saying that the platformâs real use is the ability to use channels to distribute material to large groups at once. Telegram has acted to remove public channels affiliated with terrorism, but Pavel Durov reiterated that he had no business snooping on private conversations. One thing that Telegram now offers to all users is the ability to âdisappearâ messages or set remote deletion deadlines. That enables users to have much more control over how long people can access what youâre sending them. Given that Russian law enforcement officials are reportedly (via Insider) stopping people in the street and demanding to read their text messages, this could be vital to protect individuals from reprisals.
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