Singapore-based artificial intelligence firm Genius Group says it’s temporarily barred from expanding its Bitcoin treasury after a US court order has banned it from selling shares, raising funds and using investor funds to buy more Bitcoin. A New York District court issued the preliminary injunction (PI) and temporary restraining order (TRO) on March 13 in connection with a broader dispute surrounding its merger with Fatbrain AI, the Genius Group said in an April 3 statement. Fatbrain AI and Genius Group completed a merger and purchase agreement in March 2024, but by Oct. 30, Genius initiated arbitration procedures to terminate, alleging fraud by Fatbrain AI executives connected to the deal
source: https://cointelegraph.com/news/ai-firm-genius-group-orced-sell-bitcoin-treasury?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound