U.S. Court Forces Genius Group to Sell Bitcoin and Suspends Crypto Treasury Expansion
Genius Group, an AI technology company based in Singapore, was forced to sell part of its Bitcoin reserve following a U.S. court order that restricts its financial operations.
The decision, resulting from a lawsuit filed by FatBrain AI, temporarily prevents the company from selling shares, raising capital, or acquiring more Bitcoin. The conflict arose after an unsuccessful merger attempt between the companies in 2024.
As a consequence, Genius Group sold 10 of its 440 BTC to maintain its operations, with the possibility of further sales if the situation persists.
The company claims that the order forces it to violate Singaporean laws, as it blocks the issuance of shares promised to employees. Despite the pressure, Genius reiterates its commitment to Bitcoin as a strategic part of its treasury in the long term.