Genius Group received a court injunction from New York, suspending financing and coin purchases, and was forced to sell its BTC reserves.

GateUser-6433627c · 2025-04-04T04:41:26+00:00

Genius Group has been prohibited from financing and purchasing Bitcoin by the U.S. District Court for the Southern District of New York due to a legal dispute with Fatbrain AI (LZGI), forcing it to sell part of its Bitcoin reserves. The company's Bitcoin reserves have decreased to 430 coins, down from the original 440 coins. Genius Group plans to appeal and warns that the ban could pose a serious threat to its normal operations.

GateUser-6433627c

2025-04-04 04:41:26

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[Genius Group received an injunction from a New York court, suspending financing and coin purchases and being forced to sell BTC reserves] Genius Group, an AI and Bitcoin-oriented education company, announced that it has been ordered by the U.S. District Court for the Southern District of New York to cease financing, selling shares, and using investor funds to purchase Bitcoin. Genius Group has been forced to reduce its Bitcoin reserves from 440 coins to 430 coins to maintain operations and is appealing. The ban stems from a legal dispute related to Fatbrain AI (LZGI). Genius warns that if the ban continues, it will severely threaten its normal operations.

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