Genius Group Blocked from Raising Funds and Buying Bitcoin by New York Court

Quick Summary:

SINGAPORE, April 03, 2025 (GLOBE NEWSWIRE) -- Genius Group Limited (NYSE American: GNS) ("Genius Group” or the "Company”), a leading AI-powered, Bitcoin-first education group, today announced that it is being forced to sell its Bitcoin Treasury after having been blocked from selling shares or raising funds, and specifically from using investor funds to buy Bitcoin by the United States District Court Southern District of New York (SDNY).

As a result of the PI, which legally blocks Genius from being able to fund its operations, Genius is currently taking the following actions: Pursuing an appeal with the second circuit: The Company filed an emergency motion to vacate the PI and for an immediate administrative stay with the United States Court of Appeals for the Second Circuit on March 19, 2025, and is awaiting the outcome of the appeal.

Further to these filings, on February 14, 2025, Moe and Ritz filed for a Temporary Restraining Order (TRO) and Preliminary Injunction (PI) to prevent Genius from selling any shares, or raising any funds, including through the use of its $150m ATM funding, and specifically from buying Bitcoin.

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Article Details

Author / Journalist: Genius Group Limited

Category: Technology

Markets: ChinaSingaporeUnited States

Topics: SGXZ34583559 NYSE:GNS

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-03 @ 12:00:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: globenewswire.com

Language: English

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