𝐕𝐑𝐄𝐍𝐄 𝐕𝐈𝐋𝐋𝐀𝐆𝐄

𝐕𝐑𝐄𝐍𝐄 𝐕𝐈𝐋𝐋𝐀𝐆𝐄

𝐕𝐑𝐄𝐍𝐄 𝐕𝐈𝐋𝐋𝐀𝐆𝐄 Telegram | DID YOU KNOW?

Oh no. There’s a certain degree of myth-making around what exactly went on, so take everything that follows lightly. Telegram was originally launched as a side project by the Durov brothers, with Nikolai handling the coding and Pavel as CEO, while both were at VK. In the past, it was noticed that through bulk SMSes, investors were induced to invest in or purchase the stocks of certain listed companies. In 2018, Russia banned Telegram although it reversed the prohibition two years later. 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. Just days after Russia invaded Ukraine, Durov wrote that Telegram was "increasingly becoming a source of unverified information," and he worried about the app being used to "incite ethnic hatred."
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