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Wu said that Telegram founder Pavel Durov stated that despite some recent FUD, Telegram's capital structure has nothing to do with Russia, and in its recent $1.7 billion bond issuance, "there were no Russian investors involved." The old bonds issued in 2021 have been mostly repaid and do not pose a problem. He emphasized that bondholders are not the same as shareholders, and currently, Telegram's only shareholder remains himself.