AI and bitcoin-oriented education company Genius Group has announced that it has been ruled by the U.S. District Court for the Southern District of New York to prohibit financing, selling shares, and using investor funds to purchase bitcoin.
Genius Group has been forced to reduce its bitcoin reserves from 440 to 430 coins to stay afloat and is appealing. The ban stems from a legal dispute related to Fatbrain AI (LZGI). Genius warns that if the ban continues, it will seriously threaten its normal operations.
Genius Group received a New York court injunction suspending financing and cryptocurrency purchases and was forced to sell its BTC reserves
2025-04-03 16:14:18
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