𝐀𝐩𝐚𝐫𝐭𝐦𝐞𝐧𝐭 115

𝐀𝐩𝐚𝐫𝐭𝐦𝐞𝐧𝐭 115

𝐀𝐩𝐚𝐫𝐭𝐦𝐞𝐧𝐭 115 Telegram | DID YOU KNOW?

So, uh, whenever I hear about Telegram, it’s always in relation to something bad. What gives? 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. Either way, Durov says that he withdrew his resignation but that he was ousted from his company anyway. Subsequently, control of the company was reportedly handed to oligarchs Alisher Usmanov and Igor Sechin, both allegedly close associates of Russian leader Vladimir Putin. For example, WhatsApp restricted the number of times a user could forward something, and developed automated systems that detect and flag objectionable content. Friday’s performance was part of a larger shift. For the week, the Dow, S&P 500 and Nasdaq fell 2%, 2.9%, and 3.5%, respectively.
𝐀𝐩𝐚𝐫𝐭𝐦𝐞𝐧𝐭 115 from us

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