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Futures News on February 5, Economies.com analysts latest views today: Spot gold futures prices continued their upward trend at the opening today, successfully touching and trying to break through our expected target price of 2850.00, opening the way for more gains in the next period of time. Our next important target price is 2900.00. The current bullish band is guided and supported by a small rising channel. However, if the price falls below the key support level of 2835.00, it may interrupt the current upward trend and prompt the price to turn down, first testing the support line of the main bull market channel, which is about 2785.00, and then it is possible to try to rise again. Today, the expected trading range of spot gold is set between 2835.00 support and 2875.00 resistance.Toyota Motor: The newly established company will develop a new electric vehicle based on the Lexus brand. Production is planned to start in 2027, with an initial production capacity of approximately 100,000 vehicles per year. It is planned to create approximately 1,000 new jobs during the start-up phase (of the electric vehicle production plan).Toyota Motors share price quickly expanded its gains to 1.5%.Toyota Motor shares reversed losses and were now up 0.9%.Futures February 5, Economies.com analysts latest view today: WTI crude oil futures prices hit the key resistance level of 73.90 in the previous few days of trading, and then experienced a bear market correction, and are now moving towards the first test point of 72.30. It is worth noting that to confirm the continuation of the bear market band, it is necessary to fall below the 72.30 level, and the subsequent main target prices are 71.20 and 70.30 respectively. Based on the above situation, we expect the bearish trend to be maintained for some time to come, and this forecast is supported by the 50-day exponential moving average (EMA50). However, if the price successfully breaks through the resistance level of 73.90, it may stop the expected downward trend and prompt the price to rebound, first testing the 75.50 area. The expected trading range of WTI crude oil futures prices today is between 71.20 support and 74.20 resistance.

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

Jimmy Khan

Aug 24, 2022 15:25

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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.

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