Mɪᴄʜᴇʟsᴏɴ.
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Date: | Mɪᴄʜᴇʟsᴏɴ.
However, the perpetrators of such frauds are now adopting new methods and technologies to defraud the investors. In the past, it was noticed that through bulk SMSes, investors were induced to invest in or purchase the stocks of certain listed companies. 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. Friday’s performance was part of a larger shift. For the week, the Dow, S&P 500 and Nasdaq fell 2%, 2.9%, and 3.5%, respectively. Markets continued to grapple with the economic and corporate earnings implications relating to the Russia-Ukraine conflict. “We have a ton of uncertainty right now,” said Stephanie Link, chief investment strategist and portfolio manager at Hightower Advisors. “We’re dealing with a war, we’re dealing with inflation. We don’t know what it means to earnings.”
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Mɪᴄʜᴇʟsᴏɴ.𝑁𝑢𝑛𝑐𝑎 𝑡𝑟𝑖𝑠𝑡𝑒𝑠, 𝑠𝑖𝑒𝑚𝑝𝑟𝑒 𝑙𝑜𝑐𝑜𝑠.
Mɪᴄʜᴇʟsᴏɴ.
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