Celsius Founder Faces NY Fraud Lawsuit

Former Celsius CEO Alex Mashinsky's motion to dismiss a civil fraud lawsuit filed by the New York Attorney General has been denied by a judge, allowing the case to proceed. Tether has celebrated a legal victory after a U.S. District Court dismissed a class action lawsuit regarding its reserves. The Chinese government has announced plans to crack down on overseas telecom fraud, specifically targeting crypto and artificial intelligence. Worldcoin has reported significant user growth following the launch of its retina-scanning digital ID platform. Huobi crypto exchange is experiencing large outflows amid concerns about its solvency, while Elon Musk has denied rumors of a token launch for his micro-blogging platform X.