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Israeli Prime Minister Benjamin Netanyahu: (Regarding the situation in Iran) We have achieved tremendous progress. But it is not over yet. New developments could occur at any time.Israeli Prime Minister Netanyahu: We are at war with Iran, which is spreading instability around the world, and we have no better friend than the United States.On April 19, US President Donald Trump said in an interview with the New York Post that he would "very likely" travel to Islamabad, the capital of Pakistan, if the US and Iran could reach an agreement. When asked by a reporter whether he would go to Islamabad, Trump initially said, "I think it might be a little later. Well have to see how things go tomorrow." When pressed further, Trump stated that he would not make a decision before negotiations made progress, but "it will likely be later."April 19th - According to CNN, U.S. Energy Secretary Frank Wright stated in an interview on Sunday that Americans may have to wait until next year to escape gasoline prices exceeding $3 per gallon. Wright said that while the ongoing war with Iran has caused gasoline prices to soar, he is unsure when prices will fall below $3 again. "It could be later this year, or it could be next year," Wright said. "But prices have likely peaked and will start to decline, especially if the conflict is resolved." He also stated that ending the 47-year conflict and preventing Iran from acquiring nuclear weapons will certainly bring short-term disruption. However, he believes the U.S. has handled the situation exceptionally well. The U.S. is currently experiencing the largest energy flow disruption in history, and gasoline prices peaked a week ago, about $1 lower than the peak during the Biden administration.On April 19th, local time, the head of the security department in Gombad Kavus, Iran, stated that a fire broke out at a factory in the city around 2 PM local time. It is understood that the black smoke billowing from the scene was caused by the burning of materials inside the factory. The factory is located far from the city center and oil and gas facilities, and relevant departments have preliminarily determined that the fire does not pose a direct threat to the surrounding area. The report stated that the cause of the fire is still under investigation, and there are no reports of casualties.

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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