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He said that since his platform does not have the capacity to check all channels, it may restrict some in Russia and Ukraine "for the duration of the conflict," but then reversed course hours later after many users complained that Telegram was an important source of information. Russians and Ukrainians are both prolific users of Telegram. They rely on the app for channels that act as newsfeeds, group chats (both public and private), and one-to-one communication. Since the Russian invasion of Ukraine, Telegram has remained an important lifeline for both Russians and Ukrainians, as a way of staying aware of the latest news and keeping in touch with loved ones. For example, WhatsApp restricted the number of times a user could forward something, and developed automated systems that detect and flag objectionable content. 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. That hurt tech stocks. For the past few weeks, the 10-year yield has traded between 1.72% and 2%, as traders moved into the bond for safety when Russia headlines were ugly—and out of it when headlines improved. Now, the yield is touching its pandemic-era high. If the yield breaks above that level, that could signal that it’s on a sustainable path higher. Higher long-dated bond yields make future profits less valuable—and many tech companies are valued on the basis of profits forecast for many years in the future.
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