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On April 4th, a source told CNBC that the U.S. Senate Banking Committee will hold a hearing on April 16th to consider Kevin Warshs nomination as Federal Reserve Chairman. Another criminal investigation surrounding the Fed is ongoing, examining whether current Chairman Jerome Powell made false statements to Congress regarding the expensive renovation of the Feds office buildings. Warshs nomination process is still progressing, potentially creating a conflict between the two parallel processes pushed by the Trump administration. Banking Committee member Thom Tillis has stated that he will not vote to confirm Warsh until the investigation is complete, meaning Trump cannot proceed with both processes simultaneously. However, by continuing to push forward with the hearings, Trump is clearly still trying to achieve this goal. The Senate Banking Committee has not yet included the hearings in its public schedule.According to CNBC, the U.S. Senate Banking Committee will hold a hearing on April 16 regarding the nomination of Kevin Warsh as chairman of the Federal Reserve.On April 4th, the Greek government completed a new round of cabinet reshuffle, with three new officials, including the Minister of Agriculture Development and Food, being sworn in. This is the second reshuffle of the Greek government since the scandal of fraudulently obtaining EU agricultural subsidies broke last year. On April 3rd, the European Prosecutors Office submitted case materials to the Greek Parliament regarding the fraudulent receipt and misuse of EU agricultural subsidy funds, involving several Greek government officials and members of parliament. Several officials, including the Minister of Agriculture Development and Food, resigned, and the Greek government subsequently announced the reshuffle plan. Since last year, the scandal of fraudulently obtaining EU agricultural subsidies in Greece has continued to escalate. The EU prosecutors investigation shows that Greek officials are suspected of issuing EU funds to ineligible farmers through forged documents, with the amount involved potentially reaching hundreds of millions of euros. In June 2025, five senior Greek government officials, including then-Minister of Migration and Asylum Markis Volidis, resigned due to their alleged involvement in the case.On April 4th, the Iranian Islamic Revolutionary Guard Corps (IRGC) issued a statement announcing that its Navy and Aerospace Forces launched the 95th wave of Operation True Commitment 4 that morning. The statement indicated that a US HIMARS rocket artillery system on Bubiyan Island in Kuwait, a US Patriot missile system in northern Bahrain, a US Navy Mark missile launch array, a gathering place for senior US commanders and instructors in the Al Dafra region of the UAE, and a US Oracle company target in the UAE were all destroyed in the operation. An Israeli-owned merchant ship flying a third-country flag was also heavily attacked by the Iranian Navy in the port of Salman, Bahrain. Furthermore, Iranian missiles launched heavy strikes from multiple locations in Israel, including Bunnebula, Petah Tikwa, and Tel Aviv. This round of operations is still ongoing.The UAE Ministry of Defense stated that its air defense system responded to the 23 ballistic missiles and 56 drones launched by Iran today.

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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