{"id":25078,"date":"2024-07-15T19:00:43","date_gmt":"2024-07-15T16:00:43","guid":{"rendered":"https:\/\/coinengineer.io\/?p=25078"},"modified":"2024-07-15T12:58:55","modified_gmt":"2024-07-15T09:58:55","slug":"celsius-and-keyfi-settle-lawsuit-with-major-asset-transfer","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/celsius-and-keyfi-settle-lawsuit-with-major-asset-transfer\/","title":{"rendered":"Celsius and KeyFi Settle Lawsuit with Major Asset Transfer"},"content":{"rendered":"<p>Following a lawsuit and countersuit against KeyFi and CEO Jason Stone&#8217;s relationship to bankrupt crypto lender <strong>Celsius<\/strong>, the two parties have decided to settle based on an agreement turned in court last week. Jason Stone is also the manager of the pseudonymous 0xb1X account.<\/p>\n<p>Along with the $1.1 million proceeds of a Mutant Ape Yacht Club sale now held in escrow, the settlement deal will see KeyFi transfer a multiplicity of assets to <strong>Celsius<\/strong>, including wallets containing hundreds of different tokens and significant NFTs. KeyFi will also move DeFi protocol assets Spartan, Unslashed, Stakehound, and crypto company Fireblocks.<\/p>\n<p><strong>Celsius<\/strong>, per the agreement, will sell the assets over the following twelve months. <strong>Celsius<\/strong> will pay KeyFi and Stone a first payment of $300,000 plus a rare one-of-one NFT by Marco Santorini. Then, up to $500,000, <strong>Celsius<\/strong> will pay 10% of the liquidations to KeyFi. (This cap will probably be achieved given that the assets in issue include multiple valuable NFTs.)<\/p>\n<p>Usually in tiny amounts, the wallets in issue hold a great range of crypto coins. Among many others, the wallets have roughly $500 worth of Dogecoin and roughly $2,600 worth of USD Coin stablecoins.<\/p>\n<p>Still, the wallets also feature a number of valuable NFTs: 13 CryptoPunks, three Fidenzas by Tyler Hobbs, 19 Meebits, four Mutant Apes, 14 Otherdeeds, and hundreds of additional tokens from projects such as World of Women, Art Blocks, and Rarible. Given that NFT demand has mostly dried up over the past year, the liquidation of these NFTs by <strong>Celsius<\/strong> could affect the floor price of the collections.<\/p>\n<p>&nbsp;<\/p>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following a lawsuit and countersuit against KeyFi and CEO Jason Stone&#8217;s relationship to bankrupt crypto lender Celsius, the two parties have decided to settle based on an agreement turned in court last week. Jason Stone is also the manager of the pseudonymous 0xb1X account. Along with the $1.1 million proceeds of a Mutant Ape Yacht<\/p>\n","protected":false},"author":6,"featured_media":25081,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[3438,7377],"class_list":["post-25078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-celsius","tag-keyfi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Celsius and KeyFi Settle Lawsuit with Major Asset Transfer - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/celsius-and-keyfi-settle-lawsuit-with-major-asset-transfer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Celsius and KeyFi Settle Lawsuit with Major Asset Transfer - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Following a lawsuit and countersuit against KeyFi and CEO Jason Stone&#8217;s relationship to bankrupt crypto lender Celsius, the two parties have decided to settle based on an agreement turned in court last week. Jason Stone is also the manager of the pseudonymous 0xb1X account. 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