Celsius files lawsuit to recover $150M from staking platform StakeHound
Bankrupt crypto lender Celsius Network has filed a lawsuit against liquid staking platform StakeHound after the company allegedly failed to return $150 million worth of tokens owned by Celsius.
According to a court document filed by Celsius, the company placed 40 million Polygon (MATIC), 66,000 Polkadot (DOT), 25,000 staked Ether (stETH) and 35,000 Ether (ETH). Celsius highlighted that these tokens are worth a total of $150 million.
In exchange for the tokens, Celsius received “stTokens,” which they could deploy on other investments or return to StakeHound to get their crypto back. However, the recent filing alleged that StakeHound demanded arbitration against Celsius and argued that it “has no obligation” to exchange native ETH for the stTokens after it was confronted by its breaches of duty to Celsius.
According to Celsius, StakeHound’s arbitration filing violates section 362 of the United States Bankruptcy Code, also known as the automatic stay rule. This rule disallows creditors from taking legal action against or collecting debt from a company or person as soon as they file for bankruptcy.
In addition, Celsius also argued in the filing that “StakeHound should be required to immediately turn over Celsius’ property” and pay compensation for damages that arose from its breaches of contractual duties.
Cointelegraph reached out to Celsius Network and StakeHound for comments but did not receive a response by publication.
Related: CFTC investigators conclude ex-Celsius CEO Mashinsky broke US rules: Report
In 2022, it was reported that Celsius lost 35,000 ETH when StakeHound lost private keys for a total of around 38,000 ETH. The firm argues that it has been relieved of its obligation to pay back these assets.
[DB] Celsius Lost 35,000 ETH When Stakehound “Misplaced” Private Keys
— db (@tier10k) July 14, 2022
Since its bankruptcy filing almost a year ago, Celsius has been trying to make an effort to restructure. On Feb. 15, Celsius presented a restructuring plan that pushes for creating a public platform owned by Earn creators, which will be sponsored by digital asset investment firm NovaWulf.
Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.
Magazine: Crypto regulation — Does SEC Chair Gary Gensler have the final say?
World
‘Even if my parents are dead, I just want to know’: Hong Kong residents stunned by tower tragedy
What do you do, how do you spend your time, when you’ve just lost everything you have?
This was the dilemma for thousands today in Hong Kong.
On the whole, it seemed people chose to stay close to the scene.
Hong Kong fire block latest: More arrests in deadly tower blaze
The square that had become the heart of the community response was heaving. Many poured through the piles of clothes, blankets and other supplies.
Some simply sat and watched on, their faces blank and stunned.
Birds fly over the burned buildings at the fire scene at Wang Fuk Court, on 27 November. Pic: AP
Above them, the seven blackened towers are now still and quiet. The blaze is finally out.
But an unknown number are still lying somewhere inside – and the wait for news is unbearable.
“Even if they are dead, I just want to know,” cries Mr Lau, whose elderly parents lived 27 floors up. His grief is raw and unchecked.
“I want to ask John Lee [Hong Kong’s chief executive], what are you actually doing? All you did was wander around and hold press conferences. What about us?”
His questions reflect a noticeable shift in the tone here.
There is a tension emerging, an anxiety, even an anger.
People look at flames engulfing a building after a fire broke out at Wang Fuk Court on 26 November. Pic: AP
Of course, people are furious with the construction company that was undertaking renovations and is accused of cutting corners.
But that is not their only target.
Many here believe the Beijing-backed government has not enforced good enough safety standards, batting away residents’ concerns and turning a blind eye to issues like overcrowding.
They say it is now too focused on deflecting the blame.
“With every building maintenance project, there are criticisms, but these criticisms are always suppressed,” explains one man who lives in the neighbourhood.
Flowers near the scene. Pic: AP
And do you think there’s corruption, I ask?
“Absolutely,” he says.
They are particularly exercised about what they see as an overfocus on the bamboo scaffolding.
Considered almost a part of Hong Kong’s cultural heritage, it was already being phased out. A convenient distraction from other failings, according to people here.
Please use Chrome browser for a more accessible video player
Hundreds missing after Hong Kong fire
Tensions are high, too, between different groups of volunteers.
We witnessed two separate arguments where local grassroots organisers accused some who are part of a government-linked group of attempting to seize control and take the credit.
In the Hong Kong of old, there would almost certainly have been vigils here.
But after a massive crackdown on pro-democracy movements that climaxed in 2019, any mass gathering in today’s Hong Kong is seen as dangerous.
A resident looks at the burned buildings. Pic: AP
Even if it is just to honour the dead.
It feels like the resentments left over from that time are not that far from the surface.
This is still a human tragedy, but the fallout could well be political.
Jordan Bardella has had a makeover.
Like many in the new generation of right-wing European politicians, he has a neat haircut and sharply cut suits – now add to that glasses and some light stubble.
It’s all designed to achieve two things: clean up a historically toxic and racist far-right brand, and disguise his youth.
Bardella is only 30 years old, he has little life-experience outside politics, but he will be the next president of France in 2027 if new polls hold up.
The rebrand is working. For the first time this week, French polling company Odoxa predicted Bardella would win the presidency whatever his competition.
Bardella has a strong social media presence – 1.2 million followers on Instagram, 2.2 million on TikTok. It’s attracting a youth following who identify with this young pretender.
Bardella attracts plenty of fans wherever he goes
“We find that he thinks about us, about future generations, and that he’s trying to improve things for us,” a young girl told us as she waited for Bardella to arrive at the latest stop on his national book tour.
“We really feel like he’s there for us.”
“Everything he says is really good,” her friend added. “He’s got a bit of humour as well.”
Neither are yet old enough to vote. They will be by the time the next elections come around, though.
There are plenty of youngsters drawn to Bardella’s campaign
A platform for the presidency
Bardella’s new book, What The French People Want, is his snapshot of France today – told through the eyes of 21 ordinary French people, presumably carefully selected.
The collection of short stories paints a picture of a country that has drifted from its national identity. It is Bardella’s platform to campaign for the presidency in 2027.
We spent the day with him on his book tour (campaign launch) in the town of Vesoul in eastern France. It’s classic new National Rally territory.
The town has voted for the right-wing party in the last two elections, and its MP is another 30-something in the mould of Bardella.
“Sh*t, the enemy,” one person remarked when they overheard us speaking English. “Were you at the battle of Waterloo?”
Bardella’s book release comes less than two years before the presidential election, due in spring 2027
The reception Bardella got, especially among the young, was hysterical. For well over an hour as the rain started to fall, he was surrounded by a crowd shouting his name and barging their way into his line of vision for a valuable selfie.
Bardella took his time, flashing his smile for hundreds of photos, savvy enough to know that each one posted on Instagram or Facebook is free advertising for his campaign.
But not everyone’s a fan…
Vesoul is friendly ground for Bardella, but National Rally remains a toxic brand in many people’s eyes. Plenty of French do not want to see him become their next president.
As the light faded and Bardella moved from one market stall to another at the town’s annual fair he was suddenly attacked by a local schoolboy who threw flour at him.
Bardella was bundled into a nearby gazebo and quickly surrounded by advisers and security.
His assailant, a 17-year-old, was arrested and taken away by police who had otherwise been standing to one side as the circus rolled through.
Not everyone’s a fan of the young pretender
Bardella’s smart blue raincoat was now covered in white dust. The atmosphere turned as cold as the late November evening.
His security tried to stop us filming, flashing lights into our camera and physically threatening us as they escorted their man away through the now largely deserted market stalls.
“Next time I’ll beat you,” one of them shouted, wielding an umbrella.
Bardella’s social media channels would later make no reference to the incident. Follow him and watch them, and you would never know anything happened.
A short time later, cleaned up and in a change of clothes, Bardella was smiling again and posing for more selfies at a hotel in the town centre.
Has France had enough of ‘experts’?
Outside, hundreds waited in the cold and drizzle to get their copies of his book signed. The image of long queues around France is one that his social media team has pounced on.
Bardella has little to no experience outside of politics, having joined National Rally as a 16-year-old and dropping out of university. His youth and lack of another career is a criticism he dismisses with a well-rehearsed answer when I spoke to him between signings in a rare interview.
Bardella voting in last year’s snap parliamentary elections, which have caused chaos in French politics. Pic: Reuters
“That’s an argument I hear often from my political opponents, but only when it suits them,” he says.
“When the mayor of New York is elected at 34, the left applauds. When Gabriel Attal becomes prime minister at 33, the right applauds.
“I don’t believe age is any guarantee of effectiveness. For 30 years, our country has been led by people we were told were experts: people from elite schools, people presented to us as the brightest minds in finance. We can’t exactly say the results have been outstanding.”
Detoxifying the brand
He, and the party, have tried to distance themselves from the openly antisemitic and racist views of its founder, Jean-Marie Le Pen.
Le Pen’s daughter, Marine, remains the party matriarch but is banned from running for office after being found guilty of embezzling funds earlier this year. She will appeal but if she loses Bardella is her chosen successor.
Marine Le Pen and Jordan Bardella. Pic: AP
Bardella has visited the Holocaust memorial of Yad Vashem in Jerusalem and severed links with the extremist AfD in Germany. But he stills holds what many would regard as extreme views on immigration, classifying it as “a major emergency” and vowing to abolish “droit du sol” – the automatic birthright to French citizenship.
“All European countries, including the United Kingdom, are realising that immigration poses a threat to the major balances of society and to European societies as a whole, because it creates tensions, fuels insecurity, disrupts our identity, and places an economic and social burden on public finances,” he says.
Backing for Farage
I put to Bardella the prospect that in a few years, he could be president of France and Nigel Farage could be prime minister of the UK – two of Europe’s biggest powers led by far-right leaders.
“I have a lot of respect for Nigel Farage, for his fighting spirit,” Bardella replied.
“I think he’s extremely solid. He has never wavered in his determination to defend the interests of the British people first, and I truly wish for the UK that he becomes prime minister.
“That’s a personal view, I’m not trying to interfere.”
Reform’s Nigel Farage – if you believe the polls, Britain’s likely next prime minister. Pic: PA
Read more from Sky News:
DC suspect worked with CIA-backed unit
Hong Kong reels from historic fire disaster
Bardella has stopped short of proposing a “Frexit” but his views on the EU are clear, and Paris’s relationship with Brussels will undoubtedly change if he enters the Elysee Palace.
“Every time the European Union gets involved in something, it turns into a disaster,” he says.
“We handed agriculture over to the EU, it was a disaster. We handed energy over to the EU, companies are shutting down in France because energy prices and EU pricing rules have soared, especially since the start of the war in Ukraine. We entrusted immigration policy to the EU, again it was a disaster.”
He sees the UK as a major player in his vision for a reshaped Europe: “It is a great country, historically and geographically. I believe that in a Europe of nations, the UK would find a new role.”
And he is pro-Ukraine, telling me “a peace agreement cannot be made on Russia’s terms, because I do not underestimate, and no one should underestimate, President (Vladimir) Putin‘s intentions and ambitions”.
Bardella is capitalising on the dysfunction and deep unpopularity of Emmanuel Macron‘s administration. Four prime ministers in a little over a year have left the French public frustrated and disillusioned with the current leadership.
The country’s debt to GDP ratio is reaching crisis levels.
Bardella certainly presents something different and the French public, however sceptical, might just be fed up enough with the current generation of politicians to take a punt on him in 18 months’ time.
Israeli forces killed two Palestinian men in the West Bank after they appeared to be surrendering.
Palestinians said the killings, which were captured on video and shown on two Arab TV channels, were carried out “in cold blood”.
In the video, the men were seen exiting a building and lying on the ground in front of Israeli forces in the northern West Bank city of Jenin.
Both men lifted their T-shirts and held their hands in the air, apparently to show they were not carrying weapons or explosives.
The soldiers then appeared to order the men back inside the building before they were shot.
A Reuters journalist in the area saw the men leave the building, appearing to surrender, and later, after hearing shots fired, saw Israeli forces standing near what appeared to be a lifeless body.
The men were identified as al Muntasir Abdullah, 26, and Yousef Asasa, 37, by Palestinian authorities.
Footage of the incident has been broadcast on Arab TV channels
What has Israel said about the incident?
A joint statement between the Israeli Defence Forces and Israeli police said: “Earlier this evening (Thursday), during an Israel Border Police and IDF operation in the area of Jenin, the forces operated to apprehend wanted individuals who had carried out terror activities, including hurling explosives and firing at security forces.
“The wanted individuals were affiliated with a terror network in the area of Jenin.
“The forces entered the area, enclosed the structure in which the suspects were located, and initiated a surrender procedure that lasted several hours. Following the use of engineering tools on the structure, the two suspects exited.
“Following their exit, fire was directed toward the suspects.
“The incident is under review by the commanders on the ground, and will be transferred to the relevant professional bodies.”
Israel’s far-right national security minister Itamar Ben-Gvir said the military and police unit involved in the shooting had his “full backing”.
“The fighters acted exactly as expected of them – terrorists should die!” he wrote on X.
A Reuters journalist captured images from near the scene. Pic: Reuters
‘An outright extrajudicial killing’
But Palestinians and human rights groups say Israeli investigations in such incidents yield few results, with Israeli troops rarely prosecuted.
The Palestinian prime minister’s office in Ramallah also accused Israel of executing the men “in cold blood”, calling the shooting “an outright extrajudicial killing in blatant violation of international humanitarian law”.
Yuli Novak, the executive director of B’Tselem, an Israeli human rights organisation, said: “The execution documented today is the result of an accelerated process of dehumanisation of Palestinians and the complete abandonment of their lives by the Israeli regime.
“In Israel, there is no mechanism that acts to stop the killing of Palestinians or is capable of prosecuting those responsible.”
Read more from Sky News:
Hong Kongers reel from fire disaster
National Guard trooper shot in DC dies
Israel’s military has scaled up its military operations in the West Bank since the October 7 Hamas attack, which triggered the war in Gaza.
Since October 2023, Israeli forces and settlers have killed more than 1,000 Palestinians in the West Bank, according to B’Tselem, which said the perpetrators were “granted full impunity by Israel”.
-
Sports2 years agoStory injured on diving stop, exits Red Sox game
-
Sports3 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports2 years agoGame 1 of WS least-watched in recorded history
-
Sports3 years agoButton battles heat exhaustion in NASCAR debut
-
Sports3 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports4 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment3 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment1 year agoHere are the best electric bikes you can buy at every price level in October 2024