• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 3rd, it was reported that the National Innovation Center for Optoelectronics, the National Key Laboratory of Optical Communication Technology and Networks, and Pengcheng Laboratory jointly developed a multifunctional programmable optoelectronic fusion gate array system (P-FPGA) – LightIN. This system consists of a programmable photonic chip, an electronic control module, and a test-compile-adjust (TCA) intelligent configuration framework, enabling multiple functions such as photonic computing acceleration, signal processing, network switching, and security encryption. The related findings were published in Nature sub-journal Light: Science & Applications 15:165.On April 3rd, Xiaomi announced that due to the continued sharp rise in the prices of key components such as global memory chips, and after careful evaluation, the company will adjust the suggested retail price of some of its products starting from 00:00 on April 11, 2026. This adjustment involves three models: the REDMI K90 Pro Max will see a price increase of 200 yuan; the Turbo 5 and Turbo 5 Max will have their Spring Festival special offers cancelled; and the 512GB version will continue to receive a 200 yuan subsidy.On April 3, according to a draft military planning law seen by Politico, France plans to increase its missile and drone stockpile by up to 400% by 2030. Currently, Paris is allocating billions of euros to increase existing stockpiles and replenish its air defense missiles used by the air force in intercepting Iranian drone attacks in the Gulf region. French Prime Minister Seleção recently told lawmakers, "The immediate priority is, of course, ammunition." This statement comes against the backdrop of widespread European concerns about a potential conflict with Russia before 2030. The French government will submit an updated military planning law on April 8, planning to allocate 8.5 billion euros for drones and missiles by 2030. The 64-page draft explicitly aims to prepare for a "war economy." Since the outbreak of the Russia-Ukraine conflict in 2022 and Trumps re-election as US president, European countries have accelerated the enhancement of their defense capabilities due to concerns that Washington might withdraw from NATO or cease to guarantee European security.According to the South China Morning Post, Leapmotor plans to establish a European R&D center to drive global growth and is considering assembling vehicles in Canada.On April 3, seven departments, including the Ministry of Industry and Information Technology, issued the "Action Plan for Intensifying the Upgrading and Transformation of Old Plants in the Petrochemical Industry (2026-2029)." The plan proposes to utilize existing policy funding channels, such as those for "new infrastructure" and technological innovation/re-lending, to support the upgrading and transformation of eligible old plants. It also emphasizes leveraging relevant government investment funds to provide investment support to enterprises. Financial institutions are encouraged to implement targeted credit policies based on industrial layout and capacity control, and to promote bank-enterprise cooperation through credit market service platforms and national industry-finance cooperation platforms to improve the quality and efficiency of financial services. Enterprises can enjoy existing support policies during the upgrading and transformation process. Local governments with the necessary conditions can utilize existing funding channels to support the upgrading and transformation of eligible old plants. The annual performance evaluation of relevant central enterprises should appropriately consider the impact of upgrading and transformation of old plants on their operating performance.

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.