Some of Silicon Valley’s leading investors are lining up to buy into a much-hyped initial coin offering by Telegram, the encrypted messaging service that is seeking $1.2bn to build a virtual economy within its app. As The Financial Times reported, Venture capital firms Kleiner Perkins Caufield & Byers, Benchmark and Sequoia Capital have each told the company they want to invest $20m, according to three people with knowledge of the deals. Sequoia and Kleiner declined to comment, and Benchmark did not respond to requests for comment.
For the first time in half a century, Sweden is seriously prepping its country for the possibility of war. Growing national anxiety over the threat of Russia has led the government to send out 4.7m information pamphlets to all households informing them of what to do in the event of war. "All of society needs to be prepared for conflict, not just the military. We haven't been using words such as total defence or high alert for 25-30 years or more. So the knowledge among citizens is very low", says the government.
George Soros has lamented that the European Union is on the verge of collapse while Russia is becoming “a resurgent nationalist power.” Hungarian-American tycoon George Soros, who runs the $26 billion Soros Fund Management and chairs the global board of the Open Society Foundations (OSF), made the remarks while speaking to the Financial Times.
Last week the government published the full list of people who were granted Maltese citizenship during 2016, including those who had purchased their citizenship through the Individual Investor Programme (IIP). Under the IIP, high-net worth individuals can obtain Maltese, and therefore EU citizenship, against a fee of €650,000, as well as €150,000 in government bonds and a €350,000 investment in property. A physical presence is not required for applicants to prove residency.
The non-profit that oversees development of ethereum has officially unveiled two subsidy programs that will support research on how to grow the number of transactions its blockchain can process. In a blog post published Tuesday, ethereum creator Vitalik Buterin described how the network is beginning to reach 1 million transactions per day.
Russian officials are developing a cryptocurrency intended to help the country evade international financial sanctions, the Financial Times reported on Tuesday. Russian President Vladimir Putin has commissioned government agencies to work on a “cryptorouble,” the FT reported, citing Moscow officials.
A reluctant Russia is expected to agree with OPEC and other producers to continue to curb global oil production, but the deal may have more caveats than initially expected by the market. The somewhat rocky road to reaching an agreement by Thursday's OPEC meeting has also exposed some cracks in the new world order of oil – where Saudi Arabia and Russia use their combined heft to influence prices and global supply. The cause of those "cracks" in the new 'R-OPEC' appears to be U.S. shale oil.
Russia is ready to discuss an extension of a global deal between OPEC and other countries to cut oil output in Vienna on November 30, TASS news agency quoted the Energy Minister Alexander Novak as saying on Friday. The Organization of the Petroleum Exporting Countries, Russia and several other major producers cut their combined output by about 1.8 million barrels per day since January to reduce bloated inventories and boost oil prices.
According to The Hollywood Reporter, Burger King is petitioning the Russian government’s Federal Anti-Monopoly Service to ban It from showing in theaters because they argue that the Stephen King reboot could potentially hurt its business. Apparently, Burger King is afraid that audiences will watch an evil clown terrorize a bunch of children for two hours and get inspired to give their business to another similarly red-haired clown. It's basically the opposite argument that all those hardworking clowns made when they feared that IT would wreck their birthday party business, but whatever.
Responding to President Vladimir Putin's recent comments on artificial intelligence, Space X and Tesla CEO Elon Musk said on Monday that World War III would likely be triggered by competition for AI. The business magnate’s prediction came in response to Putin’s comments at a meeting with schoolchildren in Yaroslavl on September 1, in which the Russian president said it was important to prevent monopolies in the field, adding that if Russia became the global leader in artificial intelligence, “it will share its technology with the rest of the world, like we are doing now with atomic and nuclear technology.”
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