Justin Sun sues billionaire David Geffen over $78.4 million art deal

02/07 01:51

Wechat scan to share

On February 7th, Justin Sun filed a lawsuit against billionaire collector David Geffen in the Manhattan Federal Court, demanding the return of a sculpture by Giacometti called "Le Nez" or a substantial compensation. According to court documents, Justin Sun's former advisor Xiong Zihan Sydney sold the sculpture, which Justin Sun bought for $78.4 million at Sotheby's in 2021, to Geffen without authorization by forging signatures and pretending to be a lawyer. The transaction included two paintings worth $55 million and $10.5 million in cryptocurrency. Geffen's lawyer stated that the lawsuit is "ridiculous and baseless".

Comments

All Comments

There are no comments yet, why not be the first?

Recommended for you

Jamie Redman · 04/07 03:35

Bitcoin Drops 7% as Wall Street Futures Slide Before Monday’s Open

Bitcoin dipped to an intraday low of $77,098, mirroring the downturn in futures markets as the Dow Jones Industrial average plunged more than 1,500 points.
William Suberg · 04/07 03:32

Bitcoin price drops below $80K as stocks face 1987 Black Monday rerun

BTC price predictions diverge from stocks as Bitcoin shows surprising resilience to market downside over US trade tariffs — traders see that continuing next week.
Stephen Moore · 04/07 03:28

Crypto plunges as Trump tariff 'medicine' brutalizes global stock markets

US President Donald Trump told reporters he wasn't intentionally engineering a market sell-off, but “sometimes you have to take medicine to fix something.”
cointelegraph · 04/06 13:00

Decentralized exchanges gain ground despite $6M Hyperliquid exploit

Decentralized exchanges like Hyperliquid continue cutting into the market share of their centralized rivals.
Coindesk · 04/06 12:54

Nearly 400,000 FTX users risk losing $2.5 billion in repayments

Nearly 400,000 FTX users risk losing $2.5 billion in crypto repayments unless they complete KYC verification before the extended June 1 deadline.
04/06 04:18

Forbes survey: More than a third of Wall Street leaders oppose Trump's economic policies

Forbes recently conducted an investigation into President Trump's economic policies, contacting 50 of the most influential figures on Wall Street, including billionaire investors, heads of large institutional asset management companies, and top financial advisors in the United States, to understand their views on Trump's economic strategy since taking office.
Kevin Helms · 04/05 05:52

Coinbase Launching US Regulated 24/7 Bitcoin Futures

Coinbase is preparing to launch U.S.-regulated, 24/7 bitcoin and ethereum futures, aiming to modernize trading access and introduce perpetual-style contracts amid rising demand.
The Block · 04/04 23:39

Clanker team earns $13 million in revenue from over 200,000 tokens on Base in just five months

Clanker has generated nearly $27 million in all-time fees, which has resulted in over $13 million in revenue for its team.
Terence Zimwara · 04/04 23:37

The Dark Side of Tariffs: Dalio Predicts Global Stagflation and Economic Upheaval

Ray Dalio warns that Donald Trump’s tariff policies could lead to global stagflation and significantly alter U.S.- China trade relations.
Jesse Coghlan · 04/03 09:56

Alabama, Minnesota lawmakers join US states pushing for Bitcoin reserves

Bills to create Bitcoin reserves have been introduced in 26 states, with Arizona currently the closest to passing a law.