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On March 29, Iran released satellite images showing the destruction of a US E-3 early warning aircraft. The Iranian Islamic Revolutionary Guard Corps issued a statement on the 29th, claiming that an E-3 early warning aircraft at the Prince Sultan Air Base in Saudi Arabia had been completely destroyed. Other nearby aircraft also suffered severe damage. According to Iranian sources, the Prince Sultan Air Base in Saudi Arabia was recently attacked by Iranian missiles and drones, and one US E-3 early warning aircraft was damaged in the attack.RIA Novosti: Russia claims it has occupied the village of Kivsharivka in Kharkiv Oblast, Ukraine.On March 29th, E Fund, a listed fund specializing in crude oil futures, announced that its secondary market trading price has recently been significantly higher than its net asset value (NAV). On March 25th, 2026, the NAV per unit was 1.6067 yuan, while the closing price on the secondary market as of March 27th was 2.260 yuan. To protect investors interests, trading in the fund will be suspended from the market opening on March 30th until 10:30 AM, resuming at 10:30 AM. Redemption services will continue as usual during the suspension period. If the premium does not effectively decrease, further suspension measures will be taken as needed.On March 29th, Swiss President Guy Palmer stated that trade negotiations between Switzerland and the United States will continue beyond the preliminary tariff agreement reached last year and will not end in March. In February, the US Supreme Court ruled that Trumps previous global tariff policies were invalid, prompting Trump to order a new round of global tariffs of 10% on all imported goods. In March, the US launched a new round of investigations against major trading partners, including Switzerland, adding further uncertainty to the trade negotiations. Palmer, who also serves as Switzerlands Minister of Economic Affairs, stated this weekend that the goal of completing negotiations by the end of March is "effectively" no longer applicable, and negotiations will continue. According to two sources familiar with the matter, the next round of Swiss-US trade negotiations may be held in April.According to Iranian state media, Iranian Parliament Speaker Qalibaf stated that symbols of American prestige, from F-35 fighter jets to aircraft carriers and regional military bases, have suffered significant blows.

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.