Any emergency strategy changes in planning using Bitcoin (BTC) will require the launch of a genius group of Singarpur’s companies. This was after the ban imposed through opinions originating from the US District Court for the Southern District of New York.
As stated in a statement released on the official website on April 3, the court has banned moving forward in incorporating digital currency into the Ministry of Finance.
As a result, a group of geniuses who had planned to follow in the footsteps of strategies in the purchase of major cryptocurrencies announced that it would be forced Selling your holdings with Bitcoin To gain liquidity. All this against his will. His acquisition 440 Other than BTCwill be reduced to 430 Bitcoin.
As reported by Cryptonoticias, last November, the company announced plans to follow Michel Saylor’s advice and do the same thing as the strategy. Creation of Nakamoto At It will become its main reserve asset.
The idea was to use offers in the market Get $120 million in Bitcoinwill be maintained for the long term. However, the company is involved in a lawsuit that complicates the plan.
As reported, during the dispute between partners and shareholders, on February 14, 2025, officials from the Fat Brain AI Artificial Intelligence Company (LZGI) cited on the U.S. Stock Exchange were requested. Limitations on geniuses. The action is led by partners Michael Moh and Peter Ritz.
Thus, through the lawsuit, they asked the US court to issue temporary restriction orders (TROs) and preliminary orders (PIs) to prevent geniuses from raising funds to sell actions or win Bitcoin.
Both requests were granted by the court, the statement said, indicating this fact. ratified by court order It aired on March 13th this year.
To date, the court orders continue. As a result, Genius has seen the court’s funding and financial activities of Bitcoin for the past six weeks in a direct violation of the consent and approval of its wishes, board of directors and our shareholders.
A genius group.
In this way, geniuses are not only truncated their goals, but also face a set of limitations.
The company is also taking steps to ensure that its growth plans can be legally resumed, including closing several divisions and canceling all sponsorships for events, marketing and investment activities. All of this, even if there are Headquartered in Singapore.
«American courts never imagined that a company could prevent the issuance of shares, raising funds, or purchasing Bitcoin. “We are pleased to announce that we are committed to providing a range of services and services to our customers,” said Roger James Hamilton, executive director of Genius Group.
Meanwhile, the company is aiming to raise restrictions. This week he voided the court’s order and presented an emergency motion before the US Court of Appeals demanding an immediate administrative halt. I’m waiting for the outcome of the appeal.
(tagstotranslate)Asia
