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Telegram | DID YOU KNOW?
"And that set off kind of a battle royale for control of the platform that Durov eventually lost," said Nathalie Maréchal of the Washington advocacy group Ranking Digital Rights. He floated the idea of restricting the use of Telegram in Ukraine and Russia, a suggestion that was met with fierce opposition from users. Shortly after, Durov backed off the idea. Telegram users are able to send files of any type up to 2GB each and access them from any device, with no limit on cloud storage, which has made downloading files more popular on the platform. 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. This provided opportunity to their linked entities to offload their shares at higher prices and make significant profits at the cost of unsuspecting retail investors.
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