Tried testing the issue on chrome reported version# 70.0.3538.67 using Windows-10 with steps mentioned below:
1) Launched chrome reported version and opened New Tab Page
2) Opened Devtools > Performance tab, clicked on record icon(eg: played an YouTube video) and clicked on STOP
3) Clicked on 'Call Tree' tab, and expanded the Event tree, observed the sub-folders names with readable format

@Reporter: Please find the attached screenshot for your reference and let us know if we missed anything in reproducing the issue, provide your feedback on it which help in further triaging it in better way.

Thanks!

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-navigate to about:blank
-open DevTools > Console
-execute: setInterval(function Функция() {}, 1)
-switch to Performance tab
-record 5 seconds
-inside the 'Function Call' you will see wrong text instead of text 'Функция' (see the attached screenshot)

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	encoding2.png 35.1 KB View Download

Thank you for providing more feedback. Adding the requester to the cc list.

For more details visit https://www.chromium.org/issue-tracking/autotriage - Your friendly Sheriffbot

Able to reproduce the issue on reported chrome version #70.0.3538.67 and latest chrome #72.0.3584.0 using Windows 10, Ubuntu 17.10 and Mac OS 10.13.6 by following the steps as per comment#3.

Bisect information:
===================
Good Build: 69.0.3483.0
Bad Build: 69.0.3484.0

Will provide Change-log details soon, hence marking it as untriaged.
Thanks.!

The following revision refers to this bug:
  https://chromium.googlesource.com/v8/v8.git/+/4157c3b3e4426c034ff95f0d732a34b97fb5b344

commit 4157c3b3e4426c034ff95f0d732a34b97fb5b344
Author: Alexei Filippov <alph@chromium.org>
Date: Sat Oct 20 19:44:45 2018

[tracing] Fix Unicode values in TracedValue

Do not encode single byte characters with \uXXXX.

BUG= chromium:895974 

Change-Id: If8e0bdb19d326228a7d3d0c9559d4457c8bfd270
Reviewed-on: https://chromium-review.googlesource.com/c/1292679
Reviewed-by: Aleksey Kozyatinskiy <kozyatinskiy@chromium.org>
Reviewed-by: Ulan Degenbaev <ulan@chromium.org>
Commit-Queue: Alexei Filippov <alph@chromium.org>
Cr-Commit-Position: refs/heads/master@{#56835}
[modify] https://crrev.com/4157c3b3e4426c034ff95f0d732a34b97fb5b344/src/tracing/traced-value.cc
[modify] https://crrev.com/4157c3b3e4426c034ff95f0d732a34b97fb5b344/test/cctest/test-traced-value.cc

The following revision refers to this bug:
  https://chromium.googlesource.com/v8/v8.git/+/6dcbd4ff8e08e7e4bd9ee697dbb103e0f9a54400

commit 6dcbd4ff8e08e7e4bd9ee697dbb103e0f9a54400
Author: Alexei Filippov <alph@chromium.org>
Date: Wed Oct 31 17:46:52 2018

[tracing] Escape UTF8 strings in JSON compliant form.

JSON format does not support \xNN encoding. Use \uNNNN instead.

+ Add myself to the src/tracing/OWNERS

BUG= chromium:895974 

Change-Id: I410a09d44af08b61837579fa09d263d897b9385e
Reviewed-on: https://chromium-review.googlesource.com/c/1303535
Reviewed-by: Yang Guo <yangguo@chromium.org>
Reviewed-by: Dmitry Gozman <dgozman@chromium.org>
Commit-Queue: Alexei Filippov <alph@chromium.org>
Cr-Commit-Position: refs/heads/master@{#57180}
[add] https://crrev.com/6dcbd4ff8e08e7e4bd9ee697dbb103e0f9a54400/src/tracing/OWNER
[modify] https://crrev.com/6dcbd4ff8e08e7e4bd9ee697dbb103e0f9a54400/src/tracing/traced-value.cc
[modify] https://crrev.com/6dcbd4ff8e08e7e4bd9ee697dbb103e0f9a54400/test/cctest/test-traced-value.cc