April 4, 2025
Conflict With Fatbrain AI
The ruling prevents the Singapore-based AI firm from selling shares, raising funds, or purchasing more Bitcoin amid a legal dispute over its merger with Fatbrain AI.
Source: X (@rogerhamilton)
Genius had completed the merger in March 2024 but later sought to terminate it, accusing Fatbrain executives of fraud. As a result, Fatbrain executives filed for the injunction, forcing Genius to sell 10 BTC to fund operations. The company may need to sell more Bitcoin if the injunction remains.
$30M In Losses
Fatbrain AI shareholders filed lawsuits alleging $30 million in losses due to fraudulent actions during the merger. Genius was dismissed from the suits in February.
Despite the legal challenges, CEO Roger James Hamilton affirmed the company will continue to support Bitcoin. Meanwhile, Genius Group’s stock also recently fell by nearly 10%.
