Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
Singapore-based artificial intelligence company Genius Group is facing significant restrictions on expanding its Bitcoin holdings due to a recent legal ruling in the United States.
A recent press release revealed that on March 13, a New York District Court issued a preliminary injunction and temporary restraining order against the firm. These orders specifically prohibit Genius Group from selling shares, raising new funds, or using existing investor funds to purchase additional Bitcoin.
What Really Happened?
The legal action stems from a contentious merger between Genius Group and Fatbrain AI, finalized in March 2024. Following the merger, Genius Group initiated arbitration
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!