Genius Group claims of $ 1 billion in 5000 BTC ProfRE can perform star-news.press/wp
Journalist
Hassan Shito
Journalist
Hassan Shito
Involve
Genus Group, an educational company listed on the Nasdaq Stock Exchange, agreed to a plan to divide the possible gains from two main invitations between its shareholders and the Bitcoin Treasury. The company says it can recover more than a billion dollars from damage from common cases.
in press release On Thursday, the company, which is based in Singapore, announced that its board of directors had approved a distribution plan for any net damage that recovered. According to the statement, 50 % of any winning boxes will be paid in court for shareholders as special distributions, while the remaining 50 % will be used to buy bitcoin.
CEO Roger Hamilton said that the decision was taken to ensure that any victories from the court benefit from the shareholders directly. He said: “The company has two legal issues, one of which is an introduction and one pending, in which we are looking for a combined damage of more than one billion dollars.”
The first lawsuit of the company, which was already filed in the US District Court to the southern province in Florida, seeks more than $ 750 million as compensation under the affected Racketeer law and corrupt organizations (RICO).
The lawsuit is called four individuals, including former SEC Chairman John Clayton, and claims misconduct that caused financial damage to the Genius Group.
The second lawsuit is still pending and focuses on the allegations of exposed and processed on the market. The company says that the initial analysis of 2023 trading data shows damage between 251 million dollars and 262 million dollars.
Its legal team, led by lawyer Wes Christian, is updating more modern commercial records, and the damage is expected to increase significantly before submitting them.
“Since the company follows the company to restore the damage caused by third parties directly to our shareholders, the Board of Directors believes that 100 % of any revenues from the successful result of these cases must be distributed directly or re -invests for shareholders.” Roger said.
Genus Group said that the next lawsuit for sale on the open review will include the revised damage estimates based on the continued tracking of stock trading activity.
There is no timetable yet when the two cases are concluded, and the company has warned that there is no certainty about the end result or the amount of damage it may recover. However, Genius Group has developed a post -trial road map.
Once any net damage is collected, after deducting legal fees, recovery costs and taxes, money will be divided. The shareholders will get profit distributions, while the company will use the other half to add it to Bitcoin.
If it succeeds, the strategy can put the way for one of the largest bitcoin purchases for companies directly associated with litigation revenues.
The company did not reveal the amount of Bitcoin currently keeping it, but previously described itself as “Bitco-Fairst”.
Genius collection is listed in Nyse America under GNS Ticker. You will follow any batches or purchases from SEC and NYSE and Singaporean salads.
The drama of the court reduces the Bitcoin Genius, the purchase of a post -freezing area
After a turbulent legal confrontation, the Genius Group group was banned from raising funds and forced to empty part of the Bitcoin Treasury, the education company and the company that focuses on artificial intelligence now returned to the attack.
On April 3, the New York Court prevents a genius group from selling shares or using investor boxes to buy bitcoin, noting the ongoing lawsuits associated with its deal loaded with FATBrain AI (Lzgi).
The fraud allegations that included executives Michael Mo and Peter Ritz escalated to a full legal freezing. The SEC’s complaints order, the company’s bid in the market of $ 150 million.
She was forced to stay standing on his feet, sold her genius below BTC from 440 BTC to 430 BTC when the operations were pressure.
However, the US Court of Appeal ruling in May reflected the freezing, which led to the re -introduction of the market genius.
On May 22, the company certain A new bitcoin purchase of 24.5 BTC, which enhances the cabinet to 85.5 BTC at an average cost of 99,700 dollars per currency, a total of $ 8.5 million has been invested.
This represents a 40 % increase since the freezing is raised, as the genius group has been placed in the ranks of bitcoin centers for companies.
In November 2024, Genius Group (GNS) adopted the “Bitcoin-Fair” cabinet strategy, and BTC is naming its basic backup assets.
The company has pledged to allocate 90 % of its current and future reserves for Bitcoin, noting the original long -term confidence.
To start, Genus plans to use $ 120 million of ATMs for $ 150 million to buy Bitcoin.
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2025-06-27 11:21:00
