PANews reported on April 3 that according to an official announcement, AI and Bitcoin-oriented education company Genius Group was banned by the U.S. District Court for the Southern District of New York from raising funds, selling shares, and using investor funds to purchase Bitcoin. The company has been forced to reduce its Bitcoin reserves from 440 to 430 to maintain operations and is appealing. The ban stems from a legal dispute related to Fatbrain AI (LZGI). Genius warned that if the ban continues, it will seriously threaten its normal operations.
Genius Group was injunctioned by a New York court, suspending financing and coin purchases and forced to sell BTC reserves
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