EUR/USD 1.16076
-0.217%
Gold 5169.65
0.568%
Oil 76.290
1.370%
USD/JPY 157.096
0.033%
GBP/USD 1.33321
-0.297%
GBP/JPY 209.445
-0.242%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Data released by research firm New Automotive shows that Tesla (TSLA.O) sold 2,208 cars in the UK in February, a 45.2% year-on-year decrease.On March 5th, Daiwa issued a report stating that NetEase-S (09999.HK)s "Sixteen Sounds of Yan Yun," featuring over 10,000 AI-driven non-player characters (NPCs), is a prime example of AI-native gameplay, a technology difficult for other game developers to replicate. Therefore, Daiwa believes the development cycle for core AAA games will still require approximately 5 years, and the impact of AI on development timelines is currently limited. The bank reiterated its "Buy" rating on NetEase and maintained its target price of HK$257 based on SOTP. In the long term, Daiwa expects revenue growth from NetEases classic game copyrights to be slow, and the revenue growth from the launch of the free-to-play server for "Fantasy Westward Journey" is likely a one-off boost. Furthermore, the bank believes that NetEases dual-listing strategy has structural positive implications; if included in the Hong Kong Stock Connect program in the future, it will further improve stock liquidity while reducing long-term listing risks.March 5th - According to Politico, the Pentagon is urgently increasing the number of U.S. troops used for operational intelligence gathering, indicating that the Trump administration is not prepared for a larger-scale war. A notification obtained by Politico states that U.S. Central Command has requested the Pentagon to send more military intelligence officers to its headquarters in Tampa, Florida, to support operations against Iran for at least 100 days, potentially extending into September. This is the first time the Trump administration has requested additional intelligence personnel for a war against Iran, work that is typically planned long before military action. A U.S. official stated that the Pentagon is also working to deliver more air defense systems to the region, particularly smaller and cheaper anti-drone systems that the department has been developing over the past few years.March 5th - The draft outline of the 15th Five-Year Plan proposes: Improving the quality and level of trade and investment cooperation. Strengthening coordination between imports and exports, emphasizing both goods and services, and comprehensively attracting foreign investment and overseas investment to create new advantages in international trade and two-way investment cooperation. Promoting innovative development in trade. Attracting and utilizing foreign investment with greater力度. Promoting international industrial and investment cooperation.March 5th - The draft outline of the 15th Five-Year Plan proposes: Actively and steadily promote and achieve carbon peaking. It calls for coordinating development and emission reduction, solidly carrying out carbon peaking actions, accelerating the adjustment and optimization of industrial structure, energy structure, and transportation structure, and ensuring the timely achievement of carbon peaking targets. It also calls for the comprehensive implementation of a dual control system for total carbon emissions and carbon intensity. Furthermore, it promotes energy conservation and carbon reduction in key sectors and enhances the capacity to address global climate change.

Celsius crypto lender, now bankrupt, sues ex-money manager over alleged theft

Jimmy Khan

Aug 24, 2022 15:25

微信截图_20220824145934.png


Before the cryptocurrency lender went bankrupt last month, Celsius Network LLC, according to a lawsuit filed on Tuesday by the company against a former investment manager, lost or stole assets worth tens of millions of dollars.


After Stone misrepresented himself as a pioneer in the industry, Celsius filed a case in Manhattan bankruptcy court accusing Stone and his business KeyFi Inc of "gross carelessness" and "extraordinarily poor" crypto investment.


Stone was "unable" to use cryptocurrencies profitably, according to Celsius, leading to losses of "several tens of millions of dollars."


He allegedly used stolen money to purchase hundreds of non-fungible tokens ("NFTs"), which he kept out of sight, and then hid his activities by using Tornado Cash, a cryptocurrency "mixer" that the U.S. Treasury Department banned on August 8 due to concerns that it could be used to launder the proceeds of cybercrime.


Six weeks after KeyFi sued Celsius in a Manhattan-based New York state court, the current case was filed on Tuesday.


It alleged that Celsius operated a Ponzi scheme, improperly handled client deposits, neglected to hedge investments, and defrauded Stone of possible compensation worth hundreds of millions of dollars.


According to court documents, Stone worked with Celsius for roughly seven months, concluding in March 2021.


Stone's attorney Kyle Roche said via email that Celsius CEO Alex Mashinsky had approved KeyFi's remuneration, which included NFTs.


The most recent filing by Celsius, according to Roche, "is an effort to rewrite history and make KeyFi and Mr. Stone the scapegoat for their organizational failure."


Each party feels the other is owed money, and both lawsuits aim to recover it as well as compensatory and punitive damages.


After halting withdrawals and transfers for its 1.7 million clients because to "extreme" market circumstances on July 13, Celsius, located in Hoboken, New Jersey, filed for Chapter 11 protection from creditors.


The cases are KeyFi Inc. v. Celsius Network Ltd. et al., New York State Supreme Court, New York County, No. 652367/2022; and Celsius Network Ltd. et al. v. Stone et al., U.S. Bankruptcy Court, Southern District of New York, No. 22-ap-01139.

Suggestion