Telegram's Strategic Financial Moves Amid Legal Challenges

The news reports that Nikola Plekas is taking on a new role at the TON Foundation, where he will lead its global payments strategy. Previously, he served as senior director of product commercialization at Visa Crypto. On Wednesday, Telegram plans to raise at least $1.5 billion through a bond issuance, attracting both new and existing investors. This move indicates investor confidence in Telegram's prospects despite ongoing legal challenges faced by Pavel Durov, who is under preliminary charges in France for allegedly refusing to cooperate with investigations into illegal activities, including child pornography, in his app. Both Durov and Telegram deny the French authorities' claims that they did not cooperate with criminal investigations. Existing bondholders include BlackRock and Mubadala, with Citadel expected to join as a new investor. However, a stock IPO seems unlikely shortly due to legal uncertainties around Durov and market volatility. Durov has indicated he will be in Dubai in early June, hinting at upcoming positive news.