EUR/USD 1.14218
-0.776%
Gold 5016.12
-1.248%
Oil 96.467
1.332%
USD/JPY 159.671
0.208%
GBP/USD 1.32265
-0.866%
GBP/JPY 211.193
-0.611%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On March 15, the Israel Defense Forces (IDF) issued a statement saying that it continued its strikes against ballistic missile and drone systems in western and central Iran. The statement indicated that the IDF, based on intelligence, struck a drone launch team inside a hangar in western Iran. The statement also said that since the start of the current conflict, Israel has struck hundreds of air defense systems, ballistic missile launchers, and related infrastructure in Iran.Danish Prime Minister: I am very grateful for Canadas support when the US pressured Greenland.March 15th - According to the Ministry of Emergency Management, while the overall national work safety situation has remained stable this year, several major accidents with fatalities have occurred recently. On March 13th, an accident at an auto parts company in Zhaoqing, Guangdong, resulted in 3 deaths and 4 injuries; on March 14th, a fire at a self-built house in Meizhou, Guangdong, resulted in 3 deaths and 2 injuries; on the same day, a rock climber fell near Yanlie Mountain in Jiujiang, Jiangxi, resulting in 3 deaths; and on March 15th, a mechanical injury accident at an auto parts company in Yantai, Shandong, resulted in 3 deaths. On March 15th, the State Councils Work Safety Committee Office decided to supervise the investigation of these four accidents, requiring relevant local authorities to conduct investigations at a higher level according to the principle of "four no-tolerance" (no letting go of any aspect of the accident investigation), and to hold those responsible accountable according to law and regulations. An emergency notice was also issued regarding recent major accidents, requiring lessons to be learned from these incidents, resolutely preventing and curbing major accidents, effectively preventing a resurgence of serious and dangerous accidents, and ensuring the continued stability of the national work safety situation.The Nordic countries and Canada issued a joint statement announcing their commitment to enhancing their defense industry capabilities in order to accelerate the production of defense products and strengthen combat capabilities.The Nordic countries and Canada issued a joint statement announcing that they will continue to provide economic, civilian, military, and humanitarian assistance to Ukraine.

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