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. The Russian invasion of Ukraine has been a driving force in markets for the past few weeks. On December 23rd, 2020, Pavel Durov posted to his channel that the company would need to start generating revenue. In early 2021, he added that any advertising on the platform would not use user data for targeting, and that it would be focused on “large one-to-many channels.” He pledged that ads would be “non-intrusive” and that most users would simply not notice any change. Additionally, investors are often instructed to deposit monies into personal bank accounts of individuals who claim to represent a legitimate entity, and/or into an unrelated corporate account. To lend credence and to lure unsuspecting victims, perpetrators usually claim that their entity and/or the investment schemes are approved by financial authorities. It is unclear who runs the account, although Russia's official Ministry of Foreign Affairs Twitter account promoted the Telegram channel on Saturday and claimed it was operated by "a group of experts & journalists."
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