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Cryptocurrency fund boss dies with passwords to unlock clients' $190 million

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by: Armina Ligaya


Canada's largest cryptocurrency exchange Quadriga is due in court Tuesday as it seeks creditor protection in the wake of the sudden death of its founder and chief executive in December and missing cryptocurrency worth roughly $190-million.

The Vancouver-based exchange filed an application for creditor protection on Jan. 31 and the Nova Scotia Supreme Court will be asked on Feb. 5 to appoint a monitor to oversee the proceedings, according to a post on its website, which has been otherwise shut down.

Quadriga owes $70 million in currency and an additional amount of cryptocurrency valued at approximately $180 million, based on market prices in December, to roughly 115,000 users, it said in its application.

Some have very large balances, with the largest affected user claim reportedly valued at approximately $70 million, court filings show.

Users have very little recourse to recover those funds, said Christine Duhaime, a lawyer and founder of the Digital Finance Institute…

Is it too late to invest in gold?

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By Paul Thomas


Savers are rushing to put money into gold as fears grow over the state of the global economy.

Figures from investment brokers show the amount being pumped into gold investments this month is around three times as high as a year ago.

The World Gold Council says that demand hit record highs in the first half of 2016 — and the Royal Mint enjoyed a surge in customers when the Bank of England cut interest rates at the beginning of August.

Investors tend to flock to gold in times of uncertainty because it is seen as a safe haven that will hold its value.

End of an Era: Verizon buys Yahoo for $4.8 billion

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It’s all but over for Yahoo Inc.

The Sunnyvale, Calif., Internet company, once a key guide to the World Wide Web, announced Monday that telecommunications giant Verizon Communications Inc. will buy its core assets for $4.83 billion.

The sale comes after a five-month bidding process that saw interest from media groups such as the Daily Mail and IAC, Internet companies such as Google and Microsoft and private equity firms TPG and Bain Capital.

Brazilian police smash ISIS plan for terror attacks on Rio Olympics; ...10 arrested

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Brazil's federal police today arrested 10 people and smashed a network allied to ISIS that was preparing 'acts of terrorism' at next month's Olympics in Rio de Janeiro.

President Michel Temer has called an emergency cabinet meeting and Justice Minister Alexandre de Moraes said the operation spanned nine states across Brazil, although the arrests were made in the southern states of Sao Paulo and Parana.

A court in Parana said there were indications the group was planning to use weapons to launch attacks similar to the Paris atrocities in November last year.

Revenge? Ted Cruz’s Betrayal of Donald Trump Was Brilliant

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Going in to Wednesday night, Ted Cruz intentionally left people wondering what the meaning and the subtext of his prime-time Republican National Convention speech would be: Would he endorse Trump? Come close to endorsing Trump? Or would he largely ignore Trump and talk about ideas he wants to see vindicated eventually in our politics?

In the end he did not endorse Trump, nor did he come particularly close. He did talk about some ideas (abstractions, mostly, but ideas nonetheless) that defined conservatism in the pre-Trump era. But none of these was his main objective.

African Union (AU) launches long-awaited AU passport

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The long-awaited African Union (AU) passport was on Sunday launched at the opening ceremony of the 27th Ordinary Session of the Assembly of the AU Summit in Kigali, Rwanda.

The Assembly is made up of heads of states and governments of the 54 member states of the AU.

The AU Commission’s Chairperson, Dr Dlamini Zuma, presented the passport to the Chairperson of the union, President Idriss Deby of Chad and President Paul Kagame of Rwanda.

Turkey clamps down after attempted coup; ...thousands of military and judicial personnel arrested

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Turkish authorities detained thousands of military and judicial personnel on Saturday after the government declared it had successfully resisted an attempt by armed forces officers to stage a coup.

The arrests marked an apparent clampdown within the state as the government of elected President Recep Tayyip Erdogan attempted to project an image of complete control. The roundup followed a chaotic night in which about 200 people died in violence around the country after military officers announced they had seized power.

Military coup d'etat underway in Turkey

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A group within Turkey's military has attempted to overthrow the government and security forces have been called in to "do what is necessary", Prime Minister Binali Yildirim said on Friday."Some people illegally undertook an illegal action outside of the chain of command," Yildirim said in comments broadcast by private channel NTV. "The government elected by the people remains in charge. This government will only go when the people say so."Those behind the attempted coup would pay the highest price, he added.

Possible terror attack in France as truck plows into crowd in Nice; ...over 70 killed (*GRAPHIC PHOTOS)

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A truck plowed into a large crowd watching the annual Bastille Day fireworks on the promenade in Nice, France, on Thursday night, and witnesses reported hearing gunshots.

Christian Estrosi, the deputy mayor of Nice, said that more than 70 people had been killed. “The truck was full of weapons and grenades,” Mr. Estrosi said on French television. It was not clear what motivated the driver to veer into the crowd.


GRAPHIC PICTURES AFTER THE BREAK (VIEWER'S DISCRETION)

Pokémon GO now the biggest mobile game in U.S. history

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Shooting to the top of the app store on the day it was released, within 24 hours Pokémon GO beat out indie hit Slither.io and Supercell’s heavily promoted blockbuster Clash Royale to become the biggest game of 2016, as measured by daily active users.

And that’s not all. Within three days of its release, Pokémon GO attracted more users than Twitter, and rose to the top of the App Store revenue charts, earning millions of dollars a day for its publisher, Niantic.