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Paris Attacks-Telegram Messaging App Blocked More Than 160 ISIS-Related Channels

Even though there was no official statement on how Paris attackers communicated, Telegram, a cloud-based mobile and desktop messaging app, reported to have to blocked more than 160 terrorism related chanels. The Startup company, with their Head quarters in Berlin, tweeted, thanking users for their reports as a measure to help stop the spread terrorism propaganda.

So why did the ISIS prefer Telegram to any other messaging app? According to CNNMoney, Telegram had become popular among ISIS members for its promise of highly encrypted communication and prevent authorites from snooping on them and their activities. Apparently, the startup, has two layers of encryption and is said to be faster and more secure than its competitor WhatsApp. (How safe is safe? And who else is more safe? And why should we care?)

In another article by NBC Sandiego, Telegram also comes with a self-destruct timer which allows users to set a time for an instant message to automatically delete.

There is no doubt that Telegram’s encryption is solid. But, even though  Telegram’s encryption is said to be secure, could there be any problems operational use of the program? Here is what Professor Matthew Green, a Cryptographer and a professor at Johns Hopkins University Tweeted about that.

On a separate tweet, Patel Durov,  CEO of Telegram still maintains to continue block ISIS related chanels

Still on encryption, on social media platforms, there are arguments about what technology the attackers might have used. Although some believe they communicated using encryption technology, there are others who dispute that.  Techdirt tweeted an article, that the attackers had another technology in use -Apparently, they co-ordinated via unencrypted SMS (More here)

According to an article by The New York Times,  Telegram along with other apps like Signal, Wickr, still remain some of the most powerful technologies and easily available encryption apps.

Despite Low Priced IPO, Square Inc. Still Took Many By Surprise

 

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Finally, after long talks for months, SQUARE INC (NYSE:SQ) the San Francisco based payments and financial services company, went public on  Wednesday, 18th November 2015 and it definitely took many by surprise!

Square Inc. sold shares in it’s initial public offering for $9 per share, giving the company a market capitalization of $2.9 billion, a far below the $6 billion valuation it had earned from private investors. (More on the funding round)

Square and a selling stakeholder (who?) offloaded 27 million shares –  25,650,000 shares of the Company’s  Class A common stock and the selling stockholder as named in prospectus 1,350,000 shares of  the company’s Class A common stock. The company raised $243 million in the process.

That however, was not the initial plan! So what happened? It was estimated that the initial public offering price per share of  the company’s Class A common stock would be be between $11.00 and $13.00. Nevertheless, the stock price went up  as high as $14.78 once ordinary investors could buy the shares on the open market on Thursday. After trading over 47 million shares, the stock finally ended the day at $13.07, which was an a approximate over 45% gain! In a Interview with CNBC, Jack Dorsey, the CEO of both Square Inc and Twitter Inc, showed optmism and added it was not just about  the company’s trading stock but about growing the business.

There is no denying that, many who were doubtful because of the recent market conditions for IPOs. This was quite unusual for many investors and  among experts like professor Jay R. Ritter, of  University of Florida  who has been tracking IPOs for years. ( Jay R. Ritter also writes  about investing, with a focus on initial public offerings on Forbes)  For others, this was supposed to be a sign of doom!

So, what might the returns for the investors who got in early look like?  According to Business Insider, investors who valued the company at $6 billion last year also got an absolute deal! However, according to Bloomberg View, for a certain group investors, it was indeed a loss! And for others who had negotiated for themselves a “ratchet,” the game was fair as it had been agreed!

China Cracked down $64 Billion ‘Underground Banking’ Money Laundering Activities And Illegal Transfers

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Currently, china is boosting efforts to fight corruption and to curb capital out flow. From the news, Chinese officials are said to have cracked down the country’s biggest-ever underground bank which handled illegal foreign exchange transactions worth 410 billion yuan ($64 billion) –report  by People’s Daily

According to Bloomberg, so far more than 370 people have been arrested and other are facing lawsuits and criminal charges. The Chinese authorities started the operation of raiding underground banks in April. Since then, over 170 cases underground banking and money laundering activities and illegal transfers  totaling more than 800 billion yuan ($125.34 billion) have been uncovered. So far . Police have shut down 37 banks. More than 300o bank accounts a´have been frozen. (Source-RT)

The Genesis?  The case was traced to one leader of the Zhejiang network was a man named Zhao Mouyi, who transferred over 100 billion yuan overseas using 850 different bank accounts and a dozen Hong Kong front companies. It is reported that police took nearly a year to sort through over 1.3 million suspicious transactions. (Source-Star Tribune)

Apparently, the Chinese citizens are officially limited to converting $50,000 of yuan per year! So how do the Chinese send billions abroad  for activities such as buying homes? Get the details on China’s Money Exodus here