“Our ongoing collaboration with expert colorists has resulted in a number of beautiful textures and color profiles created to fit most every design and building need. “By creating exciting new textures such as Pro-Fit Terrain Ledgestone, Cultured Stone by Boral’s momentum pushes the contemporary architecture and design movement forward,” said Crysta Hailes, Director of Marketing Representing Cultured Stone by Boral. The products are covered under a 50-year limited warranty. The panels are also approved under the National Green Building Standard™ Home Innovation, and aid in contributing to LEED® building requirements. The new styles all contain an average of 58% of recycled content, and meet the air-quality standards of GREENGUARD Gold.
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The product is produced in groups of small stones pre-bundled for a professional finish.
The Wall Street Journal soon reported the analytics firm Nansen’s findings that Celsius was involved in the crisis, despite a denial.Building upon the relief patterns and blended textures of the popular Pro-Fit ® Modera™ Ledgestone and Hewn Stone™ offerings, The new Terrain colors are the tan Arcadia, snowy Artic, multi-hued Ethos and deep-gray Trek. The clients wanted to make the house the envy of the neighbourhood and accomplished this with this stunning application of Alpine Pro-Fit ledge stone. The same month, two leading digital tokens, viz. The existing aluminum siding was removed and with no foundation upgrades needed, Pro-Fit Alpine Cultured Stone was applied directly to the existing walls. A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time.ĭuring the crypto crash in May, Celsius was reported to have witnessed a 50% decline in the value of its assets.
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Chapter 11 of the Bankruptcy Code generally provides for reorganization, usually involving a corporation or partnership. It was in July this year that Celsius filed for Chapter 11 Protection in the U.S, leaving its 1.7 million users in a panic. “The entire company’s portfolio had naked exposure to the market.” Unending battles He also added that while Celsius informed that it would hedge any potential impermanent loss from the joint operations in liquidity pools, it did not do so. Stone also claimed on Twitter that Celsius took new loans with high interest rates to repay former depositors and creditors, acting like a Ponzi scheme. Both the groups worked together during August 2020- March 2021. It was only in early July that KeyFi sued Celsius for allegedly not honouring a profit-sharing agreement and failing to pay KeyFi millions of dollars.Ī MoU was signed by KeyFi and Celsius, requiring KeyFi to operate as Celsius KeyFi, a Celsius-owned subsidiary. In late March 2021, Stone replied that the KeyFi team would ensure the “complete return of all Celsius tokens (principal + interest earned) managed by KeyFi by the end of April at the latest.” KeyFi’s allegations against Celsius
When Celsius found out that KeyFi had been using Celsius coins for other purposes, it asked Stone to return the coins. The suit also claims that in August 2020, Celsius and Stone agreed that Celsius would set up a wholly-owned subsidiary to acquire KeyFi assets and operate Celsius’s staking and DeFi activities with Stone as the CEO of that subsidiary. Department of the Treasury due to its use in multiple money laundering cases.Ĭelsius has demanded that KeyFi should be made to pay punitive damages for its criminal misconduct. Tornado Cash was recently blacklisted by the U.S. It has also sold some of these assets for seven-figure returns, the lawsuit alleges.Ĭelsius also alleges in its lawsuit that Stone and KeyFi relied on the cryptocurrency mixer, Tornado Cash. Stone and KeyFi laundered millions of dollars of Celsius property on multiple occasions using the same, it added. Celsius also alleges that KeyFi used these stolen coins to buy hundreds of NFTs and transferred them to its wallets. However, KeyFi allegedly lost coins from Celsius wallets worth millions of dollars due to mismanagement and deceit. Mismanagement and deceit?Ĭelsius claims that KeyFi CEO Jason Stone falsely represented himself as a pioneer and expert in coin staking and decentralized finance investments. It is claiming that KeyFi lost CEL worth millions of dollars through incompetence and deceit.Ĭelsius’s suit comes on the heels of KeyFi suing Celsius a few weeks back for allegedly failing to honour a profit-sharing agreement. Celsius, the New Jersey-based bankrupt cryptocurrency lending company, has countersued decentralized DeFi aggregator KeyFi and its CEO Jason Stone.
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