ruling<\/a> <\/strong>temporarily bars the company from raising funds, issuing shares, or buying more Bitcoin, complicating its financial strategy. The restriction stems from a broader legal dispute related to the company\u2019s merger with Fatbrain AI.<\/p>\nThe merger, completed in March 2024, soon turned contentious as Genius Group accused Fatbrain AI executives of fraud and initiated arbitration to undo the deal. In response, Fatbrain AI executives filed a motion to block Genius from making any financial moves, including acquiring more Bitcoin. The court granted this request in mid-March.<\/p>\n
As a result, Genius Group has had to downsize its operations, close some divisions, and even sell 10 Bitcoins from its 440-coin treasury to keep afloat. The company acknowledged that if the legal freeze remains, further Bitcoin sales might be necessary. CEO Roger James Hamilton expressed frustration, arguing that the ruling puts the company at odds with Singaporean regulations, which mandate share compensation for employees.<\/p>\n