The picture was mixed overseas. Hong Kong’s Hang Seng Index fell 1.6%, under pressure from U.S. regulatory scrutiny on New York-listed Chinese companies. Stocks were more buoyant in Europe, where Frankfurt’s DAX surged 1.4%. 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. Messages are not fully encrypted by default. That means the company could, in theory, access the content of the messages, or be forced to hand over the data at the request of a government. In a message on his Telegram channel recently recounting the episode, Durov wrote: "I lost my company and my home, but would do it again – without hesitation." This provided opportunity to their linked entities to offload their shares at higher prices and make significant profits at the cost of unsuspecting retail investors.
from tr