EUR/USD 1.15389
0.083%
Gold 4414.74
0.807%
Oil 92.059
-0.650%
USD/JPY 159.552
-0.121%
GBP/USD 1.33416
0.098%
GBP/JPY 212.873
-0.021%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
March 27th - According to Tianjin Customs, the Tianjin Lingang Comprehensive Bonded Zone officially commenced operations at 11:00 AM today (March 27th). Following this commencement, enterprises within the zone can legally enjoy preferential tax policies, including tax exemption on imported machinery and equipment and infrastructure materials, bonded entry at the first line, tax refunds at the second line, and selective taxation on domestic sales. As an important open platform serving the coordinated development of the Beijing-Tianjin-Hebei region, the commencement of operations in the Lingang Comprehensive Bonded Zone will further contribute to Tianjins construction of a new high ground for higher-level opening-up.March 27 - The Israel Defense Forces claimed responsibility for a large-scale attack on Iranian regime facilities in Tehran early on March 27 local time. Iran has not yet responded.The Peoples Bank of China (PBOC) announced today that it conducted 146.2 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 146.2 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.On March 27, the Japanese government held a cabinet meeting and formally approved the provisional budget for fiscal year 2026, submitting it to the Diet shortly thereafter. The budget applies to the 11-day period from April 1 to 11, with total general accounting expenditures of 8.5641 trillion yen. The government plans to push for its passage in the Diet on March 30 to avoid a budget vacuum. This provisional budget is reportedly the first such measure in 11 years since Shinzo Abes second term began in 2015. Prime Minister Sanae Takaichi had been striving to pass the formal budget for fiscal year 2026 within this fiscal year (April 2025 to March 2026), but opposition parties demanded sufficient time for deliberation and opposed a hasty vote within the year, leading to disagreements in the budget deliberations. The provisional budget mainly includes social security expenditures and local government tax revenue allocations. As a transitional arrangement, the provisional budget will automatically expire after the formal budget is passed.U.S. House Speaker Boris Johnson: House Democrats voted again this week against funding for the Department of Homeland Security. This is the third time they have opposed funding for law enforcement agencies responsible for protecting Americans. The Democrats have endangered American lives, seemingly unconcerned about injuries and deaths resulting from ignoring the Department of Homeland Securitys shutdown.

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

Jimmy Khan

Aug 24, 2022 15:25

微信截图_20220824145934.png


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.

Suggestion