Genius Group, an educational company and technology based in Singapore, must sell Bitcoin’s bodies after the American Court Order. The decision is part of its legal displacement that prevented the company from raising funds, issuing shares, or making more bitcoin purchases.
Genius collective lawsuit
In a major development, the United States Court’s ruling has strict financial restrictions on the Genius Group, which prevented it from issuing shares or raising the capital.
Company advertisement He explains that the American boycott court for the southern region of New York has approved a preliminary judicial order that stops its ability to generate revenues through stock sales.
The conflict was a precedent of a collapsing agreement between the Genius Group and the FATBrain AI. The genius tried to cancel a deal with Fatbrain Ai, which led to the fraud of shareholders and the investigation of SEC.
The legal dispute, as described by the company, came with a temporary restriction (TRO), which led to the prevention of access to investor funds and forcing the company to start selling Bitcoin.
Reports indicate that MEE and Ritz were accused of organizing a plan to blackmail millions of genius group by misuse of legal operations, including the temporary restriction order (TRO) and the first fabric (PI). On February 14, 2025, they applied to get TR and PI to prevent a genius from selling any shares, collecting money, or using ATM financing of $ 150 million, specifically bitcoin.
As a result, the court submitted a temporary restriction on Genius Group, prohibiting access to investor money and forcing the company to start selling Bitcoin.
Unfortunately, Genius Group said that BTC reserves had decreased from 440 BTC to 430 BTC. If the legal battle continues, it may be tracked. Since the ruling, the Genus share price has decreased by 53 % from $ 0.47 to $ 0.22, and the company’s market value is 40 % of the Bitcoin Treasury value.
Genius Group Bitcoin Pivot and relevant companies
Genius Group is one of the increasing number of corporate institutions that invest in Bitcoin. In November 2024, the genius group carried out the Bold Bitcoin-Fair Strategy, to customize Bitcoin as the origin of the treasury reserve.
CEO Roger James Hamilton called for Bitcoin, where Genius Group was placed as Bitco-Fairst. The company adopted an encrypted currency as a financial strategy, borrowing BTC Microstrategy.
Earlier, a Offer $ 33 million rights To buy BTC. However, the court’s order may force her to change her approach to bitcoin.
Companies such as Strategy, Metaplanet and Tesla Bitcoin have added to their public budgets, and considers that they undermine inflation and economic uncertainty. The strategy was more aggressive with its campaign to gain bitcoin. newly, Microstrategy captured 22,048 BTC For $ 1.92 billion at an average price of 86,969 dollars per bitcoin.
Should the pro -bitcoin companies care?
Meanwhile, the legal issue against Genius Group raises concerns about other companies that carry Bitcoin.
While companies like Microstrategy continue to assemble Bitcoin, the Genus Group case shows the legal risks involved. Many experts believe that as long as the organization adheres to the instructions stipulated by the authorities, there is nothing to fear in relation to lawsuits.
Although this may not be the case with the previous administration, the current US leadership in the United States has maintained a largely supportive position.
Godfrey Benjamin
Benjamin Jodfrey is a blockchain lover and journalists who enjoy writing about the real life applications of Blockchain technology and innovations to pay public acceptance and complementarity all over the world for emerging technology. His desires to educate people about encrypted currencies inspire his contributions to the media and the famous Blockchain sites. Benjamin Jodfrey is a fan of sports and agriculture. Follow it xand LinkedIn
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