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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. Telegram does offer end-to-end encrypted communications through Secret Chats, but this is not the default setting. Standard conversations use the MTProto method, enabling server-client encryption but with them stored on the server for ease-of-access. This makes using Telegram across multiple devices simple, but also means that the regular Telegram chats you’re having with folks are not as secure as you may believe. "And that set off kind of a battle royale for control of the platform that Durov eventually lost," said Nathalie MarΓ©chal of the Washington advocacy group Ranking Digital Rights. "There are several million Russians who can lift their head up from propaganda and try to look for other sources, and I'd say that most look for it on Telegram," he said. "We as Ukrainians believe that the truth is on our side, whether it's truth that you're proclaiming about the war and everything else, why would you want to hide it?," he said.
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