EUR/USD 1.15622
0.037%
Gold 4484.91
-0.370%
Oil 97.400
0.446%
USD/JPY 159.131
-0.104%
GBP/USD 1.33338
0.005%
GBP/JPY 212.185
-0.100%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
March 23 – Abu Mujahid al-Assaf, a security official and spokesman for the Iraqi Shiite armed group Kataib Hezbollah, issued a statement early on the 23rd local time, announcing a five-day extension of the suspension of operations against the US embassy in Iraq. The statement urged the complete withdrawal of all foreign troops from Iraq and emphasized that no foreign troops would be allowed to possess any lethal weapons or air defense systems on Iraqi territory.According to the Wall Street Journal, sources familiar with the matter said that employees at Meta Platforms (META.O) have begun using personal agent tools like My Claw, which have access to their chat logs and work files and can communicate on their behalf with colleagues (or their colleagues personal agents).According to the Wall Street Journal, Meta Platforms (META.O) CEO Mark Zuckerberg is building an AI agent to help him handle work-related tasks.S&P 500 futures recovered earlier losses, Nasdaq futures are currently down 0.1%, and Dow futures are up 0.15%.On March 23, the U.S. State Department issued a warning on March 22, advising U.S. citizens worldwide, particularly those in the Middle East, to exercise caution. The warning stated that U.S. citizens abroad should follow security alerts issued by the nearest U.S. embassy or consulate. Periodic airspace closures could disrupt travel. U.S. diplomatic facilities outside the Middle East have become targets of attack. Groups supporting Iran may target other U.S. interests abroad or locations worldwide associated with the U.S. and its citizens.

Lawsuit accuses troubled crypto lender Celsius Network of fraud

Skylar Shaw

Jul 08, 2022 14:54

微信截图_20220708144808.png


On Thursday, a former investment manager at Celsius Network filed a lawsuit against the cryptocurrency lender, alleging that it had frozen client funds and had rigged the price of its own cryptocurrency token using user contributions.


According to the lawsuit, Celsius engaged in "gross mishandling of client deposits" in order to enrich itself and deceived plaintiff KeyFi Inc, controlled by former manager Jason Stone, into delivering services worth millions of dollars while refusing to pay for them.


The complaint was filed in Manhattan's New York state court and demands both specific compensation and punitive damages; Celsius has not yet responded.


Stone's charges come after Celsius decided on June 12 to halt transfers and withdrawals for its 1.7 million clients due to "extreme" market circumstances.


Later, the Hoboken, New Jersey-based business recruited consultants to discuss a potential debt restructure that would include declaring bankruptcy.


While the cryptocurrency hedge fund went into liquidation late last month, the crypto lender Voyager Digital Ltd filed for bankruptcy protection this week.


Celsius guaranteed retail consumers disproportionate returns, up to 19% yearly.


However, Stone said that Celsius had trouble paying investors because it neglected to hedge its bets, leading to "severe" losses when the value of several currencies changed.


He also claimed that Celsius had a $100 million to $200 million hole in its records that it "could not completely explain or rectify" because certain deposits were recorded on a U.S. dollar basis even though clients were paid in bitcoin or other digital currencies.


The case filed on Thursday claims that Stone produced $838 million in profit for Celsius and KeyFi before expenses and overhead from August 2020 to March 2021 while mostly operating without a formal agreement, with KeyFi being entitled to 20% of net profit.


When it became apparent that the hedging difficulties "may be financially ruinous" for Celsius and harm KeyFi's image, Stone claims he ended the connection in March 2021. However, Stone claims that Celsius has refused to accept his resignation.


KeyFi Inc. v. Celsius Network Ltd. et al., New York State Supreme Court, New York County, is the name of the case.

Suggestion