Genius Group says it’s been banned from buying more Bitcoin

U.S. Court Blocks Genius Group’s Bitcoin Buying Plans - The Cryptocurrency Post

TL;DR Tech company Genius Group received a U.S. court order prohibiting it from purchasing more Bitcoin or raising funds, amid a legal dispute with Fatbrain AI. Genius says the restriction violates Singaporean laws and prevents it from fulfilling employee stock agreements as part of employment contracts. Despite the setback, Genius stands firm on its Bitcoin-centric strategy and aims to maintain BTC as the foundation of its financial vision. Si…

The Singaporean Genius Group launched a bitcoin strategy, but now a US court is striking in between. This is behind the BTC ban on buying. Source: BTC-ECHO BTC-ECHO

Genius Group Faces Ban on Further Bitcoin Purchases: Key Implications for Investors and Cryptocurrency Market Trends - Market-News24

Genius Group, an AI firm based in Singapore, is facing a temporary ban on expanding its Bitcoin holdings due to a U.S. court order. This order prohibits the company from selling shares, raising funds, or using investor money to purchase more Bitcoin. The court’s decision is linked to Genius Group’s merger with Fatbrain AI, which ...

Genius Group Excluded from Purchasing Additional Bitcoin: Find Out Why

The artificial intelligence company Genius Group has been forced to sell its Bitcoin reserves due to financial pressures. This decision comes as a surprise to many, as holding Bitcoin has become increasingly popular among tech companies as a way to diversify their assets. However, Genius Group has cited the need for liquidity in the face of mounting debts and operational costs. The sale of the Bitcoin reserves has raised concerns among investors…

Genius Group says it’s been banned from buying more Bitcoin

Singapore-based artificial intelligence firm Genius Group says it’s temporarily barred from expanding its Bitcoin treasury after a US court order has banned it from selling shares, raising funds and using investor funds to buy more Bitcoin.A New York District court issued the preliminary injunction (PI) and temporary restraining order (TRO) on March 13 in connection with a broader dispute surrounding its merger with Fatbrain AI, the Genius Group…

Genius Group Forced to Sell Bitcoin Amid Legal Challenges from New York Court

In a significant turn of events, Genius Group Limited (NYSE American: GNS) finds itself navigating turbulent waters as a U.S. District Court in New York has blocked the company from raising funds and purchasing Bitcoin. This injunction has forced Genius Group to sell its Bitcoin holdings, significantly impacting its operations and financial strategy. Background on the Legal Battle On October 30, 2024, Genius Group initiated arbitration to termin…