FT : Telegram says detained founder Pavel Durov has ‘nothing to hide’

Telegram says detained founder Pavel Durov has ‘nothing to hide’
Messaging app calls it ‘absurd’ for French authorities to hold its chief responsible for abuse of the platform

Messaging app Telegram has said its chief executive has “nothing to hide” after French authorities detained Pavel Durov at the weekend for alleged failures in content moderation.

In a surprise move that has escalated the global debate over free speech and raised tensions with Moscow, the Russia-born billionaire was arrested at Paris-Le Bourget airport when he arrived in the country on his private jet from Azerbaijan on Saturday evening, according to French news agency AFP.

The Paris prosecutor’s office has confirmed an active investigation into Durov, and French media have reported he is alleged to have failed to moderate adequately criminal activity on the platform.

In a statement on Sunday, Dubai-based Telegram said its moderation was “within industry standards and constantly improving”, adding that it was abiding by EU laws including the Digital Services Act. The legislation, which came into force this year, requires platforms to police harmful content and disinformation more closely, or risk penalties or being restricted in the bloc.

“It is absurd to claim that a platform or its owner are responsible for abuse of that platform,” Telegram said. “We’re awaiting a prompt resolution of this situation. Telegram is with you all.”

Durov’s detainment marks the most drastic national action against a social media chief to date and threatens to further ignite global debate over whether platforms should prioritise online safety or free speech. Free speech proponents such as Elon Musk have been hitting out at French authorities, with the billionaire owner of rival platform X posting the hashtag “#freepavel” on his platform.

French authorities had been investigating whether Telegram’s moderation failures had helped facilitate illegal activity including terrorism, drug peddling, money laundering, fraud and child exploitation, according to several French television outlets. Some reports suggested there had been a warrant out for Durov’s arrest, but Telegram on Sunday said the entrepreneur “has nothing to hide and travels frequently in Europe”.

Durov has been known as the “Mark Zuckerberg of Russia” after co-founding the country’s most popular social media network, VKontakte, in his native St Petersburg in 2007. He fled Russia in 2014 after allegedly refusing to comply with Moscow's demands for access to the data of Ukrainian users protesting against a pro-Russia administration.

Founded in 2013, Telegram has exploded in popularity, nearing 1bn users and becoming one of the key communication tools in conflict zones and humanitarian crises such as the Russia-Ukraine war and the Israel-Hamas conflict.

Durov has taken a hands-off approach to moderation and cast the app as unassailable by governments. However, some researchers have warned that it has become a hub for illicit activity and extremism as a result.

While Durov now has dual French-Emirati citizenship, his Russian roots prompted some lawmakers in Moscow to call for his release and suggest the arrest was politically motivated, while the Russian embassy in France said it had requested consular access to Durov.

In recent years, Durov has tried to distance himself and the app from Russia, amid claims by critics that the Kremlin might still have links to or leverage over Telegram.

“He thought his biggest problems were in Russia and left . . . he wanted to be a brilliant ‘citizen of the world’, living well without a homeland,” former Russian president Dmitry Medvedev, now a prominent rightwing commentator, wrote on his Telegram channel on Sunday.

“He miscalculated. To our common enemies, he is still Russian — unpredictable and dangerous, of different blood.”

Franc Tireur ; Fentanyl : l'enfer de Zombieland

Fentanyl : l'enfer de Zombieland

L’hécatombe est-elle en marche ? Prescrit initialement comme antidouleur, le fentanyl a causé plus de 130 000 morts aux États-Unis rien qu’en 2023. Opioïde bien plus puissant que la morphine, ce produit hautement addictif peut vous transformer en zombie. Il doit son essor aux cartels mexicains et aux laboratoires chinois qui produisent l’opium de synthèse et le commercialisent en pastilles. Un fléau sanitaire, et une arme géopolitique qui débarque en Europe.

Les chiffres font froid dans le dos. 130 000 morts aux États-Unis pour la seule année 2023, à cause de la consommation d’opioïdes, dont 80 000 sont imputées au seul fentanyl. Cet opioïde de synthèse, cent fois plus puissant que la morphine, ne coûte rien : entre 5 et 10 dollars la dose. Au point que l’addiction à ces drogues est devenue la deuxième cause de mortalité des Américains, après les maladies cardiovasculaires dopées par l’obésité. Deux fléaux qui commencent à décimer une Amérique où l’espérance de vie diminue déjà.

L’effet du fentanyl se voit non seulement dans les chiffres, mais aussi à l’œil nu dans les rues. Jérôme*, journaliste dans un grand quotidien français, revient tout juste de Los Angeles. Du très touristique Hollywood Boulevard aux plages de Santa Monica, en passant par le plus interlope métro de la ville, il a partout été marqué par le même spectacle : « J’avais parfois l’impression d’être sur un tournage de la série The Walking Dead, avec des silhouettes en mode zombie chavirant sur les trottoirs. » Pareil à San Francisco. Pareil dans la plupart des grandes villes américaines. Glaçant.

Ce puissant analgésique, appartenant à la famille des fentanyloïdes, a vu le jour dans les années 1960. Il soulage les douleurs les plus importantes, mais entraîne des effets secondaires dramatiques. Dès la première prise, il procure une sensation si étrangement agréable qu’elle ne peut qu’en appeler d’autres. Mais très vite la descente devient délicate et la multiplication des prises entraîne, en plus d’une dépendance quasi immédiate, d’autres effets indésirables et graves. Le sujet peine à se mouvoir, il est frappé de somnolence, de difficultés cognitives et de compulsions. Cela d’autant plus que le fentanyl est souvent mélangé à la xylazine, un anesthésiant vétérinaire, conduisant le consommateur à adopter une démarche très particulière, d’où son appellation de « drogue du zombie ». La dose létale, elle, ne dépasse pas 2 mg, d’où l’hécatombe.

Walking Dead
Le fentanyl n’est pas le seul coupable. Il s’inscrit dans le corpus de la crise des opioïdes qui secoue le pays de l’Oncle Sam depuis le mitan des années 1990. D’abord avec l’oxycodone, puis la Vicodin, le tramadol et enfin le fentanyl.

À l’origine de ce drame, un scandale sanitaire. Celui de la promotion mensongère de l’oxycodone, commercialisé par les laboratoires Purdue. Cette entreprise déploiera tout l’arsenal du marketing pour minimiser la dangerosité de son médicament et en faire l’un des fers de lance de la pharmacopée locale. Son storytelling est fondé sur le pouvoir analgésique de l’oxycodone, mais aussi sur ses propriétés euphorisantes. Le piège se referme selon un processus immuable. Une fois les prescriptions légales arrivées à terme, le patient, tombé dans l’addiction, doit trouver d’autres moyens de se procurer l’antalgique et se tourne vers les dealers. La descente aux enfers commence et ne s’arrête plus. Riches et pauvres s’y exposent, y compris des stars comme le chanteur Prince, qui en décédera en 2016. Le marché noir explose et va progressivement s’offrir aux cartels de la drogue. Un contexte qui va aussi révéler des enjeux géopolitiques.

Car la substance de base des ravageurs opioïdes, mais aussi de l’héroïne, est l’opium, extrait du pavot. Destiné à l’industrie pharmaceutique, il provient d’Inde et d’Europe – notamment de Turquie, de la République tchèque et de France. Celui qui est destiné au narcotrafic est, lui, principalement cultivé en Afghanistan, pays déchiré depuis l’échec de la conquête soviétique (1979-1989), puis la guerre post-11-Septembre.

En décembre 2001, les talibans sont remplacés par un régime corrompu aux mains de Hamid Karzai, dont le frère, Ahmed Wali Karzai, règne sur une grande partie du trafic local de l’opium.

La culture de ce psychotrope prospère jusqu’au 15 août 2021. Ce jour-là, c’est la débandade à Kaboul. Les talibans déferlent à nouveau sur la capitale afghane et reprennent le pouvoir. En avril 2022, leur chef suprême, Haibatullah Akhundzada, émet une fatwa ordonnant l’interdiction de la culture du pavot. La production s’effondre de 95 %, passant de 6 200 tonnes en 2022 à moins de 335 tonnes en 2023. Cet assèchement des opioïdes afghans, les plus fortement dosés, fondés sur la culture d’une essence spécifique du pavot blanc, va orienter le marché vers les opioïdes de synthèse. Même les adeptes de l’héroïne, confrontés à la raréfaction de leur drogue, vont changer d’addiction.

Même les cartels paniquent
Jusque-là plus connus pour leur rôle dans le trafic de cocaïne qui explose depuis les années 1980, les cartels d’Amérique centrale et du Sud entrent dans la course. Entre eux, la concurrence est rude et la diversification devient nécessaire. De plus, les opioïdes de synthèse, plus faciles à produire, à transformer et à écouler, offrent une rentabilité sans équivalent. Les cartels s’y investissent donc massivement.

Professeur à l’Edhec et spécialiste du narcotrafic, Bertrand Monnet s’est infiltré pendant des mois au sein du cartel mexicain de Sinaloa, tête de pont du trafic de fentanyl. Il en a rapporté une documentation exceptionnelle qui a fait l’objet d’une série documentaire dans Le Monde. L’un des membres qu’il a interrogés raconte : « On achète le kilo de fentanyl base à 17 000 dollars, on le revend en pastilles à 400 000 dollars, chaque pastille n’en contenant pas un milligramme. »

Le bénéfice est sans doute bien supérieur : Bertrand Monnet, qui a assisté à la fabrication d’un lot énorme de comprimés, nous assure qu’« il n’a pas requis plus de 17 g de fentanyl ». Ce dernier a d’ailleurs vite détrôné le tramadol, responsable de dizaines de milliers de morts aux États-Unis. Cependant, si les cartels bénéficient d’armées de chimistes à même de transformer le fentanyl base en pastilles de drogue, ils ne produisent pas eux-mêmes la molécule. D’où l’intervention d’un allié opportuniste : la Chine, dont les laboratoires ont l’exclusivité du marché licite et illicite.

Cette fabrication mobilise la mafia locale, les triades, des laborantins qui volent des parts de production, des intermédiaires et autres gangsters indépendants et, in fine, les cartels. Ainsi qu’un gouvernement opportuniste qui n’a pas enclenché la machine, mais qui peut en profiter. Une revanche à bas bruit dans le souvenir amer de la guerre de l’opium qui coûta fort cher à la Chine, opposée au Royaume-Uni entre 1839 et 1856, dont la conséquence fut la concession de Hong Kong en 1860.

« La chaîne d’approvisionnement de ces drogues, nous confirme Amir Hamidi, expert de la Drug Enforcement Administration (DEA), démarre en Chine. Elle profite d’une zone grise entretenue par le gouvernement, qui y trouve son intérêt. »

Depuis la guerre de la Chine de Mao contre le Kuomintang de Tchang Kaï-chek, le gouvernement chinois ne cesse en effet de souffler le chaud et le froid avec les triades et les autres organisations criminelles. Tantôt combattues, tantôt alliées de circonstance, elles servent de variables d’ajustement des besoins de Pékin sur le plan géopolitique.

Le fentanyl participe de ce jeu. Alors qu’il inonde la rue américaine via le cartel de Sinaloa, Washington a constaté la mollesse du gouvernement chinois à en endiguer le trafic. À tel point qu’une réunion au sommet entre Xi Jinping et Joe Biden s’est tenue à ce sujet le 15 novembre 2023. « Compatissant » sur le sort des victimes américaines, le leader chinois a promis de prendre « un certain nombre de mesures conséquentes pour réduire considérablement les approvisionnements ». Neuf mois plus tard, à l’exception de la fermeture d’un laboratoire et de l’ouverture d’un bureau de la DEA sur place, rien de nouveau sous le soleil. Le contraste est saisissant avec le plan de 46 milliards de dollars annuels que Joe Biden a fait voter pour endiguer le narcotrafic et soutenir la prévention. Sans compter la coopération très étroite entre autorités américaines et mexicaines.

Spécialiste des triades, auxquelles il a consacré une remarquable série documentaire pour Arte, notre confrère Antoine Vitkine nous confirme que, lors de ses tournages à Hong Kong, il était sur place « en même temps que l’un des chefs du cartel de Sinaloa ». Une présence qui ne peut avoir lieu sans l’aval, ou au moins la connaissance, des autorités chinoises.

Même s’il n’est pas le déclencheur direct du fléau qu’est le fentanyl pour les États-Unis, Pékin ne voit pas d’un mauvais œil la transformation des jeunes Américains en zombies. Xi Jinping pourrait taper sur la table pour arrêter le trafic. Là, il lui suffit de laisser faire… mais souvent ce qui échappe au pouvoir chinois correspond à ce que le pouvoir chinois accepte de voir lui échapper.

Antoine Vitkine tempère ce point de vue. « Je ne suis pas sûr que les autorités chinoises aient les moyens de stopper le processus. Même si l’ordre vient d’en haut, il y a tellement d’échelons de pouvoir en Chine… Une entreprise qui participe au trafic peut être protégée par le gouverneur local, lui-même soutenu par tel ou tel ministre. »

Ce qui n’empêche pas certains experts américains de croire – sans doute avec trop d’ardeur – à la thèse d’une nouvelle guerre de l’opium impulsée par Pékin. « C’est la thèse de think tanks très antichinois, comme la Jamestown Foundation, un institut proche de la CIA et évoluant dans la sphère néoconservatrice », poursuit Antoine Vitkine, sceptique. De fait, la réalité est sans doute plus subtile. Même si la Chine ne fait que peu d’efforts pour endiguer le trafic, sa passivité à répondre aux demandes américaines tient sans doute davantage de la gestion de son agenda diplomatique que d’un plaisir sadique à laisser le fentanyl menacer l’Oncle Sam. Dans tous les cas, quelles que soient les intentions de la Chine, le fentanyl poursuit non seulement sa sinistre besogne outre-Atlantique, mais il va à la conquête de nouveaux marchés, à commencer par l’Europe, notamment la France.

Prochaine cible : la France
« Paris ! » La réponse de l’un des membres du cartel de Silanoa fuse quand, dans le premier volet de sa série documentaire, Bertrand Monnet lui demande où commencent à s’étendre les trafiquants mexicains. « En Europe, ils payent plus cher, ça vaut le coup », poursuit-il.

« Pour le moment, nous explique Bertrand Monnet, la principale zone est la Pologne [mais aussi l’Ukraine et l’Estonie, NDLR]. Mais lui-même négocie avec des grossistes qui ne travaillent qu’avec la France. Il est fort probable que la destination initiale soit Paris et qu’ensuite ce fentanyl aille dans les pays de l’Est. » De fait, depuis 2017, date de la première saisie de fentanyloïdes en France (à peine 250 g envoyés directement de Chine), la police et les douanes multiplient les prises de plus en plus importantes. 750 g plus tard la même année, puis 6 kg en 2019, 10 kg en 2021 et 8,5 kg en 2024. Des doses énormes pour un produit dont chaque pilule issue de sa transformation contient moins d’un milligramme, rappelons-le.

La France n’est-elle qu’une zone de transit ? Fabriqué par les laboratoires chinois, souvent manufacturé et revendu par les cartels à des grossistes implantés en France ou ailleurs en Europe occidentale, le fentanyl arrive à l’Est dans la perspective d’une multitude d’exploitations.

La Pologne et ses voisins sont les champions des drogues synthétiques, comme la MDMA (ecstasy), la 3-MMC et autres substances prisées de tous les teufeurs du continent – c’est également le cas de la cocaïne, bien que son usage soit plus large. Il n’est d’ailleurs pas un mois sans que ces chimistes slaves n’inventent une nouvelle pilule du malheur.

Or celles-ci nous reviennent coupées… aux fentanyloïdes, sans que les consommateurs s’en rendent compte. Ces ajouts masqués augmentant considérablement le pouvoir addictif et la dangerosité des molécules consommées. C’est le but. Et les conséquences pour l’avenir risquent d’être incalculables si cette tendance se maintient. Par ailleurs, une part du fentanyl qui arrive sur notre territoire y demeure, et pas forcément pour un usage récréatif. Jérôme Durain est le président de la commission d’enquête sénatoriale sur l’impact du narcotrafic en France. Il a rendu un rapport exhaustif sur le sujet avec son collègue Étienne Blanc, des Républicains. Il nous alerte sur « ce qui se passe dans les territoires ruraux, une consommation-béquille à caractère professionnel, pour tenir parce que les boulots sont durs : ceux des marins pêcheurs, des chauffeurs routiers, du BTP, de la restauration. Alors, un petit rail de temps en temps… » Mais souvent un rail coupé au fentanyl. Car il s’immisce partout, insidieusement. Il inquiète même ceux qui le vendent et craignent la morbidité du produit pour leurs clients, nous dit Bertrand Monnet : « Durant mon enquête, l’un des boss d’un cartel de Washington Heights (quartier de New York) m’a assuré que “ça va s’arrêter parce qu’on tue trop de gens’’. »

Une crainte partagée par Matt*, un dealer de cocaïne de la région parisienne : « Honnêtement, je flippe. Nous sommes de plus en plus sollicités pour vendre de la M30 (le nom du fentanyl conditionné en pilules). C’est trop dangereux. Quel intérêt de tuer nos clients ? » Il tombe des nues quand nous lui apprenons que d’autres produits qu’il vend, de la coke à la 3-MMC, en provenance de Pologne, sont sans doute aussi contaminés…

Les pouvoirs publics peinent à réagir, malgré le tableau détaillé fourni dans le rapport sénatorial de Jérôme Durain et Étienne Blanc. « Pour les limiers de Bercy, pour la DGSE, le sujet principal, “les intérêts fondamentaux de la nation’’, réside dans le terrorisme et non dans le narcotrafic. Donc on s’en occupe moins. Pourtant, le narcotrafic tue davantage que le terrorisme », déplore Jérôme Durain.

Un constat amer, appuyé par les perspectives budgétaires d’une justice qui a elle aussi d’autres préoccupations. « Quand nous avons été invités à présenter notre travail au ministre de la Justice, Éric Dupond-Moretti, l’ambiance était assez désagréable, malgré une démarche d’ouverture de sa part. Il nous a dit en substance : “Je viens d’obtenir des crédits importants pour la loi d’orientation de mon ministère. Comment voulez-vous que j’en demande plus pour répondre à vos préconisations ?’’ » Jérôme Durain ajoute : « Il y a un fossé entre les acteurs de terrain qui tirent le signal d’alarme, les magistrats, la police et le sommet de la hiérarchie, qui ne bouge pas trop. » Ce n’est pourtant pas faute d’avoir reçu d’autres alertes. Comme celle du bureau du procureur général fédéral de Mexico et des équipes de la justice mexicaine venues, le 16 mai 2024, exposer devant le parquet de Paris les dangers que court la France.

Pendant ce temps, le marché de la drogue continue d’étendre son empire avec un danger croissant lié au fentanyl et à ses mortelles promesses. D’autant plus, comme conclut Jérôme Durain, qu’« il est évident que certains États ayant à leur disposition cet outil stupéfiant peuvent en jouer et en faire un fort outil de déstabilisation ». Effrayant. 

NewsWeek : California Moves Toward Zero-Down-Payment Mortgages for Illegal Immig

California Moves Toward Zero-Down-Payment Mortgages for Illegal Immigrants

A California bill that would aid undocumented migrants on the path to home ownership has advanced in the state's legislature.

Democrats on the California Senate Appropriations Committee last week unanimously approved AB 1840, a bill that would amend the California Dream for All Shared Appreciation Loan program by preventing it from denying prospective homeowners based on their immigration status.

The program was launched in 2023 and gives first-time homebuyers in the Golden State a loan of up to 20 percent of the home's purchase price to be used as a down payment.

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The bill will effectively allow migrants to buy homes without having to save for years to fund a down payment, which is almost always required by financial firms providing mortgages.

The loans from the program don't accrue interest or require monthly payments, and when the main mortgage is refinanced or the house is sold again, the borrower pays back the original amount of the loan plus 20 percent of any increase in value.

The legislation now only needs the approval of the Democrat-supermajority state Senate and a signature from Governor Gavin Newsom to be enacted.

"The social and economic benefits of homeownership should be available to everyone. As such, the California Dream for All Program should be available to all," bill author and assemblymember Joaquin Arambula said, according to a report in the LA Times.

More From Newsweek Vault: How to Calculate How Much House You Can Afford

"When undocumented individuals are excluded from such programs, they miss out on a crucial method of securing financial security and personal stability for themselves and their families."

A representative for Joaquin Arambula told Newsweek they do not have comment at this time as the bill continues through the legislative process.

More From Newsweek Vault: How To Find Down Payment Assistance Programs

The bill hasn't been without its critics.

"Once again, California has chosen to prioritize illegal immigration and fiscal irresponsibility over the needs of its citizens, all while facing a $60 billion deficit that will ultimately be passed onto taxpayers," San Diego County Supervisor Jim Desmond told the Daily Caller. "California is in dire financial straits, yet lawmakers continue to prioritize programs that incentivize illegal immigration and strain local resources.

"Expanding this program to include illegal immigrants is not just another handout—it's a massive overreach that shifts the financial burden onto law-abiding taxpayers."

"California's budget deficit continues to grow and Democratic lawmakers are so out of touch with everyday Californians that they are quite literally taking money away from law-abiding citizens, their own constituents, and handing it over as a free gift to people who broke federal law to cross the border illegally," Republican Senator Brian Dahle said.

"There's no accountability and transparency when it comes to the Democrats' spending sprees, and it's unfortunate because many Californians see homeownership as nothing more than an illusion at this point."

According to the Pew Research Center, an estimated 1.8 million of California's more than 39 million residents were undocumented immigrants as of 2022.

WSJ : How a Colorful Investor Profited From a Crypto Giant’s Dealmaking

How a Colorful Investor Profited From a Crypto Giant’s Dealmaking
Christian Angermayer introduced Tether to companies in which he held stakes, and took cuts of some of the deals

Flush with cash, the company that owns one of the world’s most popular cryptocurrencies is going shopping. Tether has bought control of companies involved in artificial intelligence and neural implants, connected by a German investor whose deal introductions have had mixed results.

Tether runs the cryptocurrency known as tether, which now has more than $115 billion worth of tokens in circulation. Thanks to higher interest rates, Tether is raking in roughly $4 billion a year from the Treasurys that back its cryptocurrency.

The company has enlisted tech investor and entrepreneur Christian Angermayer to help invest its windfall. The colorful financier has also sought riches in unconventional investments including psychedelics, dinosaur fossils and an Olympics alternative where athletes are encouraged to use performance-enhancing drugs.

So far, Angermayer has helped Tether invest roughly $1.5 billion into two companies where he already holds stakes. He also earned commissions on some of the transactions. The companies they invested in have frequently lost money.

Within the past year, Tether took majority stakes in Northern Data NB2 0.00%increase; green up pointing triangle, a money-losing German data center operator that aspires to be an AI company, and Blackrock Neurotech, a struggling Utah-based brain implant company in competition with Elon Musk’s Neuralink.

Tether didn’t provide responses to questions. A Northern Data spokesman said the company’s revenue growth demonstrates the success of its strategic investments in AI.

Tether isn’t the first crypto company to spend big on deals. At its peak, crypto brokerage FTX splashed $1 billion on a bitcoin miner on the Kazakh Steppe and $500 million in AI-firm Anthropic.

Angermayer’s family office, Malta-based Apeiron Investment Group, has a business line making introductions between investors and companies. In some deals, Apeiron introduced cash-rich buyers to pricey investments that ultimately performed poorly.

In 2017, Angermayer’s family office helped Chinese conglomerate HNA Group become the largest shareholder in struggling German lender Deutsche Bank.

Shares in the bank slid further after the deal. HNA sold amid a cash crunch a few years later and hedges limited its losses. HNA, loaded with debt and under scrutiny by the Chinese government, eventually filed for bankruptcy.

Angermayer then started working with SoftBank Group, the Japanese conglomerate which had raised by far the world’s biggest venture capital fund. He introduced the company to Wirecard, a German payments processor that was at the time fending off accusations of accounting fraud.

SoftBank helped stabilize Wirecard via a $1 billion convertible bond. Both SoftBank and Wirecard paid Angermayer’s family office a multimillion–dollar fee for the introduction.

Months after getting the cash from SoftBank, Wirecard signed a long-term partnership with cybersecurity company Cyan AG, which was 27% owned by Angermayer and a business partner. That business partner had also served as HNA’s representative on Deutsche Bank’s board. Angermayer made introductions between executives at Cyan and Wirecard.

A year after the SoftBank deal, Wirecard collapsed in an accounting scandal. SoftBank had sold off the bond to investors who were largely wiped out.

A person familiar with the transactions said Apeiron was paid the market rate for the introductions and played no role in negotiating, analyzing or structuring the deals themselves. Angermayer also facilitated several other deals that were less controversial, the person said.

Of late, Angermayer and Apeiron have focused on what he calls the “Next Human Agenda,” building a portfolio in fashionable sectors like cryptocurrency, longevity and psychedelic pharmaceuticals. He co-founded, with backing from tech investor Peter Thiel, the Enhanced Games, so called for the tournament’s embrace of performance-enhancing drugs, as an alternative to the traditional Olympics.

Angermayer often wears loud shirts bedecked with mushroom motifs. His forearm has a tattoo of the chemical symbol for psilocybin. He has hosted extravagant birthday parties at a 17th-century Austrian palace and at a Bahamian crypto conference. On Instagram, Angermayer shows off his collections of fossilized dinosaur bones and ancient sculptures focused on items inspired by psychedelic use.

The personal and professional at times intertwine. In 2022, Apeiron pitched investors on a new fund to be named “Apeiron Jurassic Fund One” that aimed to raise $30 million to invest in dinosaur fossils. Draft promotional materials said the fund would utilize “a unique global network of bounty hunters” and start with Angermayer’s collection of fossils including a juvenile tyrannosaurus rex and a diplodocus. The fund was ultimately abandoned.

Among Angermayer’s other investments was a significant stake in Northern Data, a German-listed bitcoin miner that has recently pivoted toward AI cloud hosting. Angermayer got part of that stake via Northern Data’s acquisition of two cryptocurrency mining companies in which Angermayer or his firms owned stakes. One was co-founded by a former employee of his family office.

Angermayer then began raising funds for Northern Data, and charging fees for the service.

Apeiron also billed Northern Data for introductions to investors. Charges included sponsoring and promoting the company at a Bahamas crypto conference bash that featured a shirtless performance by former One Direction star Liam Payne and purchasing tables at Elton John’s Oscar watch party. A person familiar with the transaction said Apeiron resold its tables to Northern Data at cost.

According to Northern Data’s financial statements, the company spent €840,000—equivalent to about $940,000—on Apeiron’s fundraising efforts in 2022.

Northern Data reported €420 million in losses from the acquisition of the two cryptocurrency-mining companies, according to financial disclosures. That, combined with broader declines in crypto assets in 2022, left Northern Data in a precarious financial position in early 2023, according to current and former employees.

A company spokesman said Northern Data has always operated successfully and that its audited financials show the company is currently well capitalized.

Angermayer found another deep-pocketed investor to step in: Tether

Tether first invested in Northern Data in the spring of 2023, paying €32.3 million for a stake in the company. Tether wanted to keep its involvement secret, according to people familiar with the transaction. Angermayer got a payment worth 5% of the deal’s value, the first payment he got for introducing the two companies.

Months later, Tether bought another €48 million of Northern Data shares. Again, Northern Data didn’t publicly identify Tether as its investor. A spokesman for Northern Data said both companies met their disclosure requirements around the transactions.

Angermayer received another 5% fee for the transaction. He was paid a total of €4 million for the two deals, according to invoices for the fees reviewed by the Journal.

With its early stake established, Tether began publicly helping Northern Data’s pivot to AI. Tether started an Irish company called DaMoon and lent it €400 million to buy advanced Nvidia H100 processors.

Northern Data then took over DaMoon. In return, Tether received newly issued Northern Data shares. Tether’s chief executive officer, Paolo Ardoino, described the investment in Northern Data in a podcast as “a perfect fit.” He praised the company’s management, structure and teams.

Tether followed that by giving Northern Data a €575 million line of credit, which has been drawn down entirely. The deals left Tether the majority shareholder of the company. Last month, Northern Data said it would raise another €214 million—€110 million from Tether—to buy more processors.

A spokesman for Northern Data declined to answer whether Angermayer or Apeiron were paid fees tied to the later transactions. He said any fees paid by the company have been disclosed as required by legal and accounting standards.

Tether, which is based in the British Virgin Islands, has been wildly successful. Investors like it because its cryptocurrency is stable—it is always supposed to be worth $1. It is highly liquid, making it ideal for business transactions.

Tether has also proven useful for drug smugglers, terrorist groups and countries under sanctions, according to government indictments. Regulators have stepped up scrutiny and some banks have refused to do business with the company, government and bank officials have said.

Tether has said that it works with global law enforcement and has built and maintains world-class compliance programs to guard against money laundering, terrorism financing, sanctions busting and other risks.

Angermayer had another investment for Tether.

He was co-chair of the board and the largest shareholder of Blackrock Neurotech, a manufacturer of brain-computer interfaces, small electronics implanted in paralyzed people’s brains to help them operate technology. The Salt Lake City-based company has been developing technologies since 2008.

Apeiron had led a $10 million investment round for Blackrock Neurotech in 2021. With Angermayer atop the board, former employees said, the company pushed toward going public, hoping to capitalize on the interest in the sector brought on by Musk’s Neuralink and the fervor of small investors.

But the business faltered. Former employees said Blackrock Neurotech expanded rapidly after the investment, more than doubling its head count and developing new business lines. That was followed by a series of layoffs in 2022 and 2023.

Last summer, Angermayer and Apeiron led a $37 million fundraising round. The company burned through more cash and had further layoffs, former employees said.

Blackrock Neurotech didn’t respond to requests for comment.

In April of this year, Tether swooped in and bought a majority stake in the company for $200 million, valuing Blackrock Neurotech at $350 million. The crypto company said it was branching out from merely providing a digital dollar alternative to now “empowering humans throughout the future inevitable evolution” with brain implants.

Northern Data, whose shares trade in Germany, is considering listing in the U.S. Some bankers pitching the deal to Northern Data have said it could be worth $20 billion in a few years, according to a slide deck reviewed by the Journal. The company declined to comment on a possible U.S. listing.

FT : Russian lawmakers hit back at arrest of Telegram chief Pavel Durov in Franc

Russian lawmakers hit back at arrest of Telegram chief Pavel Durov in France
Billionaire detained at Paris airport for failing to adequately moderate criminal activity on his messaging platform

Russian lawmakers have hit back the arrest of Telegram chief executive Pavel Durov in France for failing to adequately moderate criminal activity on his messaging platform.

The Russia-born billionaire was arrested at the Paris-Le Bourget airport when he arrived in the country on his private jet from Azerbaijan on Saturday evening, according to French broadcaster TF1 and news agency AFP. 

The deputy speaker of the state Duma, Vladislav Davankov, said he had called on Russian foreign minister Sergei Lavrov to secure Durov’s release. “The arrest of [Durov] could have political motives and be a means of obtaining the personal data of Telegram users. We must not allow this,” he said on his Telegram channel.

Andrey Klishas, head of Russia’s Federation Council Committee on Constitutional Law, described France’s actions as a “fight for freedom of speech and European values” in a sarcastic post on his Telegram channel.

Durov had a warrant out for his arrest in France after authorities in the country began a preliminary investigation into whether a lack of moderation on the Dubai-headquartered platform had facilitated illegal activity including terrorism, drug peddling, money laundering, fraud and child exploitation, according to reports. He is expected to appear in court on Sunday. 

The Paris prosecutor’s office confirmed there was an active investigation into Durov, but would not comment further. The interior ministry and the police declined to comment.

The Russian embassy in France said it had requested consular access to Durov although there was no request from his representatives, according to Interfax.

A representative for Telegram and Durov declined to comment.

Founded in 2013, Telegram has gained prominence in recent years to become an important communications tool for global leaders and a resource for sharing news and organising in geopolitical crises such as the Russia-Ukraine war and the Israel-Hamas conflict. With almost 1bn users, it is now one of the most popular messaging apps, rivalling Meta’s WhatsApp.

Durov’s positioning of Telegram as a privacy-orientated and censorship-resistant messaging platform has drawn scrutiny, with researchers warning that it has become a haven for criminals and hackers openly offering illicit services without repercussions. 

His detainment is likely to further increase global debate over the extent to which social media platforms and messaging apps should prioritise free speech or more tightly police the content they host, and whether executives should be held personally liable for lapses. 

The news has caused immediate backlash from free-speech proponents. “It’s 2030 in Europe and you’re being executed for liking a meme,” Elon Musk, the billionaire owner of X and a self-declared free-speech absolutist, wrote on his social media site on Saturday. Musk has clashed with EU and UK leaders over the perceived lax moderation of his platform, which police and analysts say was used alongside Telegram to organise and fuel far-right riots in Southport, UK. 

Durov, known for always wearing black and embracing extreme health fads, was previously hailed the “Mark Zuckerberg of Russia” after in 2007 co-founding the country’s most popular social media network, VKontakte, in his native St Petersburg. 

However, he fled Russia in 2014 and sold the company, after refusing to comply with demands from the country’s security agency to share the data of certain Ukrainian users of VK, per his telling. A cryptocurrency fortune then allowed him to travel and fund Telegram before settling in Dubai, which he has called “neutral”. He currently has dual French-Emirati citizenship. Forbes estimates his net worth at $15.5bn. 

While Durov was born in Russia, he has been adamant that he has cut ties with the country, amid claims by critics that the Kremlin may still have links to or leverage over Telegram. 

“He thought his biggest problems were in Russia and left . . . He wanted to be a brilliant ‘citizen of the world,’ living well without a homeland,” former Russian president Dmitry Medvedev, now a prominent rightwing commentator, wrote on his Telegram channel on Sunday. “He miscalculated. To our common enemies, he is still Russian — unpredictable and dangerous, of different blood,” he said.

In an interview with the Financial Times earlier this year, his first since 2017, Durov defended his “hands-off” approach to content moderation, saying that “typically feedback from users is please do not start censoring any content”. 

However, over the years, he has occasionally bowed to public pressure as regulators have circled, taking down Isis-linked groups in 2019, and extremist and white supremacist groups involved in the January 6 2021 storming of the US Capitol building.

Earlier this year in Spain, a court ordered the app to be blocked in the country over an investigation into the sharing of illegal content protected by copyright. The ban has since been halted. 

Telegram’s guidelines ban terrorist channels and state that it does not allow spam and scams, illegal pornography or the promotion of violence on “publicly viewable Telegram channels”.

WSJ : In Beijing’s Quest for Control of the South China Sea, a New Flashpoint Em

In Beijing’s Quest for Control of the South China Sea, a New Flashpoint Emerges
China is showing a growing willingness to escalate in the David-and-Goliath fight with the Philippines over the vital trade route

For months, the Philippines has pushed back against Beijing in the South China Sea. China has responded with increasing hostility, directing its ire against Philippine vessels and crew.

Now, a 97-meter coast-guard ship has become a new symbol of the David-and-Goliath fight between America’s top geopolitical rival and an ally it has pledged to defend in the event of an armed attack. Tensions around the vessel this week have shown China’s willingness to escalate its use of forceful tactics to tighten its control of the South China Sea.

Since mid-April, the Philippines’ BRP Teresa Magbanua has stood anchored at a stretch of low-lying reefs called Sabina Shoal, 75 nautical miles off the Philippines’ western coast. Manila says it wants to keep a close eye on the site—which lies within its 200-nautical-mile exclusive economic zone—after it detected an intensifying presence of China’s fishing militia and marine research vessels there, as well as signs of what it suspects could be preliminary land reclamation.

China has demanded that the Philippines withdraw the ship. It says much of the South China Sea belongs to Beijing—including the uninhabited Sabina Shoal, which lies 630 nautical miles from China—and rejects a 2016 ruling by an international tribunal that said its claims have no legal basis.

It says the Teresa Magbanua, anchored for months, marks an attempt by Manila to create a long-term presence at Sabina Shoal. Meanwhile, dozens of Chinese coast guard and maritime militia vessels persistently patrol, swarm and monitor contested reefs and rocks across the South China Sea, hundreds of miles from its coast.

Matters came to a head this week when China sent its coast guard to chase away its Philippine counterparts. Beijing says it believes the pair of Philippine vessels was on its way to deliver supplies to the Teresa Magbanua. Collisions ensued, leaving the Philippine ships with large holes and heavy damage.

Manila said the vessels were headed elsewhere and that China’s coast guard aggressively rammed them. China accused the Philippines of causing the collision.

“Essentially what they did was that they violently interdicted the Philippines’ freedom of navigation on the high seas within the [Philippines’] exclusive economic zone,” said Raymond Powell, director of an initiative called SeaLight, which tracks China’s activities in the South China Sea, at Stanford University’s Gordian Knot Center for National Security Innovation. “Their approach is that they can’t allow the Philippines to win or to visibly contest.”

Since President Ferdinand Marcos Jr.came to power in 2022, the Philippines’ security policies have undergone a shift. Manila has challenged China’s ubiquitous presence in the South China Sea, sought to regain the ability to patrol contested areas, broadcast aggressive Chinese tactics to galvanize global support and strengthened its alliance with the U.S.

Each step of the way, China has doubled down, resulting in risky confrontations at sea. It says it is protecting its sovereignty and maritime rights, and accuses the Philippines of stirring trouble. The threat of a dangerous escalation looms large.

For the Philippines, keeping a ship at Sabina Shoal indefinitely isn’t only burdensome—the country has only a handful of coast-guard vessels of the size of the Teresa Magbanua, while China has dozens of large vessels—but now also perilous. Beijing’s response this week suggests it plans to block any effort to either send supplies to the anchored vessel or replace it with another ship.

That potentially creates the same escalatory dynamic at Sabina Shoal that for months existed at another reef, Second Thomas Shoal. That site hosts a small detachment of Filipino marines. Until last month, each time the Philippines sent ships to resupply the outpost, China sought to obstruct them with water cannons and ramming, and on one occasion threatened Filipino personnel with axes and knives.

A deal last month appeared to ease tensions there, at least for now, but similar confrontations could play out around Sabina Shoal—once again raising the potential for conflict and stretching the Philippines thin. Dozens of Chinese vessels can surge, often at short notice, from Mischief Reef—one of China’s artificial-islands-turned-military-bases—located just 50 nautical miles west of Sabina Shoal.

Another option for the Philippines would be to withdraw the coast guard ship. That, however, might be perceived as a win for China. More important, Beijing—which has dialed up its deployment of vessels at Sabina Shoal—may take permanent control of the site. It could potentially deny the Philippines access and create a new presence just 75 nautical miles from its coast.

“It’s a Catch-22,” said Rommel Ong, who retired as a vice commander of the Philippine Navy in 2019. “There’s no way that we can leave Sabina Shoal anymore. If we leave, then most likely they’ll take over.”

Ong said the Philippines should avoid repeating what happened at Scarborough Shoal—another atoll—in 2012, when Philippine ships withdrew after a long standoff and China seized control. Now, Chinese coast guard and maritime militia are present there around the clock, blocking the Philippines from accessing its lagoon for fishing or patrols.

Occupying Sabina Shoal would advance China’s quest for control of the South China Sea, Ong said. Beijing’s ultimate goal is to turn the sea—a vital artery for shipping and commerce—into a Chinese lake where others have limited room to maneuver, he said.

For the Philippines, losing access to Sabina Shoal—and contending with a Chinese footprint there—would further complicate its ability to resupply its outpost on Second Thomas Shoal. Sabina Shoal serves as a rendezvous point for Philippine forces headed there.

Collin Koh, a senior fellow at the S. Rajaratnam School of International Studies in Singapore, said that China’s modus operandi has long been to gradually encroach on different sites in the South China Sea and unilaterally subvert the status quo. The Philippines had thwarted such attempts at Sabina Shoal, he said.

“By having a presence, it means that you’re not acquiescing to the Chinese presence,” said Koh. To do that, Koh said, even one ship was enough.