Genius Group received an injunction from a New York court, suspending financing and coin purchases and forced to sell BTC reserves

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On April 3rd, according to official sources, the AI and Bitcoin-oriented education company Genius Group was ruled by the U.S. District Court for the Southern District of New York to be prohibited from raising funds, selling shares, and using investor funds to purchase Bitcoin.

Genius Group has been forced to reduce its Bitcoin reserves from 440 to 430 coins to maintain operations and is currently filing an appeal. The injunction stems from legal disputes related to Fatbrain AI (LZGI). Genius warns that if the ban continues, it will seriously threaten its normal operations.

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