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Tron founder Justin Sun has filed a lawsuit against American film producer and record executive David Geffen in a bid to reclaim an Alberto Giacometti sculpture or get up to $80 million in damages. Sun lodged the complaint in Manhattan federal court on Tuesday, alleging the bronze Le Nez sculpture, which he previously owned, had been stolen and sold to the entertainment mogul without his consent. Sun Claims Aide Stole His Sculpture The crypto entrepreneur claims that a former employee, Xiong Zihan Sydney, who had been his art advisor, masterminded the theft and subsequent sale of the artwork to Geffen. Le Nez, which has been authenticated by the Giacometti Committee, was conceived by the artist between 1947 and 1949 and cast in 1965. Sun bought the sculpture for $78.4 million at a November 2021 auction of real estate developer Harry Macklowe’s art collection. The 34-year-old says he intended to donate it to the Singapore-based ApeNFT Foundation, which focuses on blockchain-based fractional-ownership art investments. However, he never completed the transfer; instead, he allowed the sculpture to be exhibited virtually by the organization. He later lent it to the Giacometti Foundation for an exhibition in Paris, where it was shown through January 2024. According to the lawsuit, soon after the artwork returned from France to Sun’s storage facility in Singapore, Xiong hatched a plot to steal it and sell it to Geffen, using her position to misrepresent the ownership of the piece and forge his signature on sale documents. She allegedly introduced a fake Chinese lawyer named “Laura Chang” to validate the transaction, which involved swapping Le Nez for two pieces of art from the music magnate’s collection with a combined value of $55 million. The deal also included an extra $10.5 million in cash, bringing the total to $65.5 million. Sun admits that he had considered selling the suspended bronze figure, but he wanted to recoup the $78.4 million he paid for it. The Liberland Prime Minister says he asked Xiong to keep an eye out for anyone that would pay at least $80 million for the piece, but he never authorized her to execute a sale on his behalf. His legal team is arguing that Geffen should have identified red flags before concluding the deal, including the involvement of a lawyer conducting business using a personal Gmail account. They also claim that Xiong confessed to the fraud in May 2024, admitting to pocketing $500,000 from the deal. Geffen Refutes Claims However, Geffen’s lawyer, Tibor Nagy, has dismissed the allegations against his client as nothing more than “seller’s remorse,” calling the lawsuit “bizarre and baseless.” He stressed that the movie producer had no direct contact with Sun’s art advisor and that the transaction was conducted through intermediaries. This is not the first time that Sun, who is the biggest investor in the President Donald Trump-backed World Liberty Financial, is in the news over art-related matters. In November last year, he made waves after spending $6.2 million on Maurizio Cattelan’s Comedian, a banana duct-taped to the wall, and eating it soon after. The post Justin Sun Sues Music Mogul David Geffen Over $78M Sculpture Dispute appeared first on CryptoPotato.

Hi guys!! are you still feeling panicked and resentful towards $PEPE because it hasn't made you rich yet? Disclaimer: I never asked you to buy or sell any crypto asset. I am not endorsed by any coin. I never asked you to believe in my analysis. I also never guaranteed that the price would move in a certain direction. My analysis is based on the Daily Time Frame, where the market structure is still bullish. I identified an Order Block area, which happened to be an area that was previously touched on February 3rd. The candles on February 4th, 5th, 6th, and 7th are still within the range of the candle on February 3rd (Inside Bar). So, I used the Hourly Time Frame to look for reversal opportunities, with confirmation from candlestick patterns or chart patterns. Is my analysis correct? Maybe yes, maybe no. Is my analysis wrong? Maybe yes, maybe no. There is no single analysis that is 100% accurate, Everything is based on probability, and the challenge for us is to overcome fear and greed. Don't forget, the key level is patience in finding opportunities. Good luck, guys

The post ‘TIGER 21’ Wealth Network Invests $6B in Cryptocurrency appeared first on Coinpedia Fintech News Are cryptocurrencies becoming popular among high-net-worth investors? Some recent developments indicate that the attitude of high-net-worth investors towards crypto has undergone a radical shift. Notably, a recent statement by TIGER 21 founder and chairman Michael Sonnenfeldt aligns well with the aforementioned assumption. TIGER 21’s Bold Crypto Move While speaking with media persons, Sonnenfeldt revealed that cryptocurrencies make up at least 1% to 3% of his firm’s investment portfolio. TIGER 21 handles no less than $200 billion. This means that the firm has approximately $6 billion invested in crypto. Additionally, the TIGER 21 chairman stated that some of its members are fully invested in crypto. TIGER 21 is more like an exclusive club of high-net-worth investors. It operates on an invitation-only model. To be eligible to receive an invitation to the group, one must have at least $20 million worth of investable assets. Currently, the investment firm has no more than 1,600 members. Bitcoin: The New Digital Gold? Interestingly, Sonnenfeldt likened Bitcoin, the largest cryptocurrency by market cap, to gold. Highlighting Bitcoin’s capability to combat the threat of economic uncertainty, he pointed out how people in economically shattered countries like Argentina and Lebanon use Bitcoin as a store of value. TIGER 21’s Crypto Investment: A Sign of the Times The political stance in the US towards the cryptocurrency industry shifted in favour of the sector following the victory of Donald Trump over Kamala Harris. The newly inducted Trump administration recently initiated strong measures to establish a clear crypto regulatory framework. Experts think that the initiatives taken by the new US regime to create a clear regulatory framework for digital assets may have influenced many high-net-worth investors to rethink their approach to cryptocurrencies. Beyond Crypto: TIGER 21’s Investment Strategy Though TIGER 21 maintains a welcoming attitude towards new-age investment arenas like cryptocurrencies, it still focuses on traditional assets like real estate and private equity. Also Read : Ripple Expands US Workforce by 75% After Elections: Is the SEC Lawsuit Ending Soon? , The Crypto Market Landscape: An Overview At the start of this month, the total market cap of crypto was at $3.45T. In the first two days of the month, the market experienced a considerable fall of 8.09%. Though on February 3, the market climbed by over 3.13%, between February 4 and 5, the market slipped by 5.16%. Currently, the market stands at $3.16T – at least 8.93% below the monthly peak. In conclusion, TIGER 21’s growing crypto investments signal a changing trend among high-net-worth investors. With a shifting US regulatory landscape and increasing recognition of Bitcoin as a store of value, institutional interest in digital assets continues to rise. While crypto remains a small part of TIGER 21’s portfolio, its increasing role suggests that more elite investors may follow suit, shaping the future of crypto adoption in the financial world. Never Miss a Beat in the Crypto World! Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more. Subscribe to News #BTC

Jupiter: Only X platform accounts were affected, customer and project funds are safe Jupiter officially announced that it has regained control of the X account. To be clear: customer or project funds were never threatened. All programs and funds are kept in a secure multi-sign…

Odaily interviews Pudgy Penguins CEO Luca Netz: Abstract is about to make major progress, Ethereum and Solana have different missions "Only these four chains are currently competitive" and "The Ethereum Foundation has never contacted me." #Bitcoin $BTC