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On February 28th, according to the National Medical Products Administration (NMPA), a symposium on rare disease drug research and development, themed "Caring First," was held at the NMPAs Center for Drug Evaluation. The meeting noted that in recent years, the NMPA has continuously strengthened the guarantee of drugs for rare diseases, implementing a comprehensive policy package and establishing and streamlining three channels: encouraging innovation, accelerating drug introduction, and temporary import. As a result, the number and speed of rare disease drugs approved for marketing in my country have significantly increased. In 2025 alone, 48 rare disease drugs were approved for marketing, allowing more patients to simultaneously enjoy internationally advanced treatments and medications. The meeting emphasized that solving problems in the field of rare diseases urgently requires greater institutional innovation and resource integration. The NMPA will continue to strengthen policy supply and enhance service support in the review and approval process. Simultaneously, it will strengthen multi-party collaboration, build consensus and synergy, and promote the application of new technologies and products.Market news: Two powerful explosions occurred in Jalalabad, Afghanistan.Israel Defense Forces: We will never allow Hezbollah to rebuild its strength.On February 28th, Wang Xingxing, Vice Chairman of the Humanoid Robotics and Embossed Intelligence Standardization Technical Committee of the Ministry of Industry and Information Technology, and founder and chairman of Unitree Robotics Co., Ltd., stated at the Humanoid Robotics and Embossed Intelligence Standardization (HEIS) Annual Conference that the company has been promoting the deployment of robots in factories for the past few years, hoping to produce humanoid robots in its own factories. Currently, when robots perform single tasks, if well-trained, they can achieve a success rate of approximately 100%, but the success rate for planning long tasks is not particularly high. Wang Xingxing stated that robot movement is a prerequisite for effective work. When robot movement is sufficiently stable and rich, the replicability and stability of the robots work will be higher. Regarding promoting the establishment of industry standards, Wang Xingxing stated that a complete standard system is needed for robot efficiency, stability, and safety. The company hopes to actively participate in promoting the standardization of industry standards to allow the entire industry to develop better. Currently, the robotics industry is in its early stages, and only healthy competition can lead to better development.February 28th - According to the State Grid Corporation of China, during the 15th Five-Year Plan period, the State Grid will strengthen its power grid resource allocation capabilities, enhance its new energy carrying capacity, and serve the high-quality development of new energy. It is reported that during the 15th Five-Year Plan period, the State Grid will strengthen the construction of power grids at all levels, strive to put 15 ultra-high voltage direct current (UHVDC) projects into operation, increase inter-provincial power transmission capacity by 35%, and more than double the capacity for flexible power exchange between regions, meeting the needs of large-scale and efficient allocation of new energy.

Celsius crypto lender, now bankrupt, sues ex-money manager over alleged theft

Jimmy Khan

Aug 24, 2022 15:25

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Before the cryptocurrency lender went bankrupt last month, Celsius Network LLC, according to a lawsuit filed on Tuesday by the company against a former investment manager, lost or stole assets worth tens of millions of dollars.


After Stone misrepresented himself as a pioneer in the industry, Celsius filed a case in Manhattan bankruptcy court accusing Stone and his business KeyFi Inc of "gross carelessness" and "extraordinarily poor" crypto investment.


Stone was "unable" to use cryptocurrencies profitably, according to Celsius, leading to losses of "several tens of millions of dollars."


He allegedly used stolen money to purchase hundreds of non-fungible tokens ("NFTs"), which he kept out of sight, and then hid his activities by using Tornado Cash, a cryptocurrency "mixer" that the U.S. Treasury Department banned on August 8 due to concerns that it could be used to launder the proceeds of cybercrime.


Six weeks after KeyFi sued Celsius in a Manhattan-based New York state court, the current case was filed on Tuesday.


It alleged that Celsius operated a Ponzi scheme, improperly handled client deposits, neglected to hedge investments, and defrauded Stone of possible compensation worth hundreds of millions of dollars.


According to court documents, Stone worked with Celsius for roughly seven months, concluding in March 2021.


Stone's attorney Kyle Roche said via email that Celsius CEO Alex Mashinsky had approved KeyFi's remuneration, which included NFTs.


The most recent filing by Celsius, according to Roche, "is an effort to rewrite history and make KeyFi and Mr. Stone the scapegoat for their organizational failure."


Each party feels the other is owed money, and both lawsuits aim to recover it as well as compensatory and punitive damages.


After halting withdrawals and transfers for its 1.7 million clients because to "extreme" market circumstances on July 13, Celsius, located in Hoboken, New Jersey, filed for Chapter 11 protection from creditors.


The cases are KeyFi Inc. v. Celsius Network Ltd. et al., New York State Supreme Court, New York County, No. 652367/2022; and Celsius Network Ltd. et al. v. Stone et al., U.S. Bankruptcy Court, Southern District of New York, No. 22-ap-01139.

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