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iQiyi (IQ.O) fell 2% in early trading after releasing its fourth-quarter earnings report.On February 26, a senior Iranian official stated that if the United States could distinguish between "nuclear and non-nuclear issues," then the US and Iran might be able to reach a framework agreement. He also noted that remaining differences needed to be resolved during the third round of negotiations in Geneva. The official stated, "The negotiation process was very tense and serious."According to CBS: The U.S. Department of Defense issued a final offer to Anthropic on Wednesday evening local time regarding the use of artificial intelligence.Sources indicate that Syngenta Group plans to launch its initial public offering (IPO) in Hong Kong in the fourth quarter. The group plans to file an IPO prospectus for up to US$10 billion in the second quarter.February 26th - CK Hutchison Holdings Limited (00001.HK) announced that following its voluntary announcement on February 4th, 2026, the Panamanian Government Gazette published on February 23rd, 2026, a ruling by the Supreme Court of Panama regarding Law No. 5 of January 16th, 1997, originally scheduled for publication on January 29th, 2026, and an administrative decree requiring the Panamanian government to seize all movable property of the Companys subsidiary, Panama Ports Corporation. Representatives of the Panamanian government forcibly entered the terminals operated by PPC in the Ports of Balboa and Cristóbal and forcibly took over administrative and operational control of the terminals. As the Company understands, the concession was deemed terminated on February 23rd, 2026, and PPC ceased all operations at the terminals in both ports on the same day. PPC has received feedback that the ruling, the administrative decree, and the corresponding actions taken by the Panamanian government regarding PPCs terminal operations in the two ports are inconsistent with the relevant legal framework and the law that approved the concession agreement. The Board strongly opposes the ruling, the administrative decree, and the corresponding actions taken by Panama. The Group, together with its legal counsel, reserves all its rights and intends to take all appropriate and feasible legal measures to protect its interests, including pursuing further domestic and international legal proceedings in this matter.

Lawsuit accuses troubled crypto lender Celsius Network of fraud

Skylar Shaw

Jul 08, 2022 14:54

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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.

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