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FinTech Platforms and Asymmetric Network Effects: Theory and Evidence from Marketplace Lending -- by Lin William Cong, Ke Tang, Danxia Xie, Weiyi Zhao
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FinTech Platforms and Asymmetric Network Effects: Theory and Evidence from Marketplace Lending -- by Lin William Cong, Ke Tang, Danxia Xie, Weiyi Zhao
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In 2014, Pavel Durov fled the country after allies of the Kremlin took control of the social networking site most know just as VK. Russia's intelligence agency had asked Durov to turn over the data of anti-Kremlin protesters. Durov refused to do so. These entities are reportedly operating nine Telegram channels with more than five million subscribers to whom they were making recommendations on selected listed scrips. Such recommendations induced the investors to deal in the said scrips, thereby creating artificial volume and price rise. Multiple pro-Kremlin media figures circulated the post's false claims, including prominent Russian journalist Vladimir Soloviev and the state-controlled Russian outlet RT, according to the DFR Lab's report. Artem Kliuchnikov and his family fled Ukraine just days before the Russian invasion. As such, the SC would like to remind investors to always exercise caution when evaluating investment opportunities, especially those promising unrealistically high returns with little or no risk. Investors should also never deposit money into someone’s personal bank account if instructed.
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