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Telegram | DID YOU KNOW?
In a message on his Telegram channel recently recounting the episode, Durov wrote: "I lost my company and my home, but would do it again – without hesitation." He adds: "Telegram has become my primary news source." In February 2014, the Ukrainian people ousted pro-Russian president Viktor Yanukovych, prompting Russia to invade and annex the Crimean peninsula. By the start of April, Pavel Durov had given his notice, with TechCrunch saying at the time that the CEO had resisted pressure to suppress pages criticizing the Russian government. 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, which does little policing of its content, has also became a hub for Russian propaganda and misinformation. Many pro-Kremlin channels have become popular, alongside accounts of journalists and other independent observers.
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