Genius Group Forced to Sell Bitcoin After US Court Order
- Genius Group, an AI-powered education company, is compelled to sell Bitcoin due to a US court order.
- The company reduced its Bitcoin holdings from 440 to 430 Bitcoin following the injunction.
- The court order blocks Genius Group from selling shares, raising funds, or purchasing Bitcoin.
- Legal proceedings involve allegations of fraud related to an Asset Purchase Agreement with Fatbrain AI.
- Since the restraining order, Genius Group’s share price has fallen by 53%.
The US District Court Southern District of New York issued a preliminary injunction forcing Genius Group to sell some of its Bitcoin holdings and blocking financial activities. This legal action is part of ongoing disputes involving fraud allegations related to an agreement with Fatbrain AI. The company’s market value has significantly decreased since the court’s decision.
Source (2.6)https://cryptobriefing.com/ai-driven-company-court-order/?rand=59535
