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Genius Group, an AI-powered, Bitcoin-first education group, has announced that it will sell its Bitcoin treasury. The announcement is a deviation from the norm of institutions and whales copiously buying BTC. However, Genius is not selling the treasury to cash it on its BTC holdings. In a report released by the group itself, it revealed that it is being forced to sell its Bitcoin treasury after getting barred from selling shares, raising funds, and specifically using investor funds to purchase Bitcoin by the United States District Court Southern District of New York (SDNY). The step taken by the United States District Court, Southern District of New York (SDNY) was caused by legal tension that reportedly stems from a dispute involving Michael Moe and Peter Ritz. On October 30, 2024, Genius initiated arbitration procedures to terminate its Asset Purchase Agreement (APA) with Fatbrain AI (LZGI), and on December 17, 2024, they agreed to a preliminary injunction on the company’s shares related to the APA. This came after LZGI’s shareholders filed a lawsuit against LZGI and its officers, Moe and Ritz, alleging a history of fraud, including in their actions related to the APA, and after the SEC filed shareholder fraud allegations for defrauding LZGI shareholders, amongst others. In addition to those filings, on February 14, 2025, Moe and Ritz filed for a Temporary Restraining Order (TRO) and Preliminary Injunction (PI) in a bid to stop Genius from selling any shares or raising any funds, including through the use of its $150M ATM funding, and specifically from buying Bitcoin. The TRO was granted on the same day, while the SDNY granted the PI on March 13, 2025. Over the last six weeks, Genius has attempted to convince the court through multiple letters and motions explaining that the TRO and PI did not maintain the status quo pending arbitration and that they were based on false statements designed to defraud the court. Genius also alleged that the filing of the TRO and PI was an attempt to extort more money from the company. Among the documents Genius provided the court was a transcript of a meeting with Ritz and Genius executives recorded in New York on February 27, 2025. In it, Ritz explained how he weaponized the TRO and PI process in order to get millions more out of Genius that would sponsor his personal scheme to defraud LZGI shareholders. This transcript has also been filed by LZGI’s shareholders in their derivative case against LZGI, Moe, and Ritz in the United States District Court Southern District of Florida. Genius was initially named in both LZGI shareholder lawsuits but has been voluntarily dismissed from both. However, the PI has remained in effect. This is why Genius’s financing and Bitcoin treasury activities have been blocked by court order for the past six weeks, a direct opposition to the wishes, consent, and approvals of the company’s board and shareholders. The injunction also prevents Genius from offering share compensation to employees as part of their long-standing employment agreements. This has forced Genius into an unusual position of being legally compelled by a U.S. court to directly break Singaporean law, where Genius Group is based. The PI, which legally blocks Genius from being able to fund its operations, is detrimental and has made it necessary for the company to take action. One avenue it plans to explore is pursuing an appeal with the Second Circuit. The company has already 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. There are also restructuring operations ongoing with the company taking steps to downsize its operation since it is legally blocked from issuing shares or raising funds. The downsizing will involve closing various divisions and canceling all event sponsorships, marketing activities, and investing activities until the PI is lifted and the company is legally able to resume its growth plans. Genius is also doing all it can to minimize Bitcoin sales but anticipates that it will need to downsize its Bitcoin treasury in the coming months in case the PI is not lifted. As of April 3, the Company has had to whittle down its Bitcoin holdings from 440 Bitcoins to 430 Bitcoins. The LZGI complaints against Ritz and Moe highlight an ongoing history of defrauding investors by diverting funds for personal gain and pushing targeted companies into insolvency and closure. The SEC complaint details a pattern of defrauding investors and short-selling companies, including LZGI. Genius believes that this same MO is being applied to it and has provided evidence suggesting that to the court as it attempts to fight against the behavior it deems fraudulent. In the time since the TRO against Genius was issued on 14 February, 2024, Genius’ share price has dropped 53% from $0.47 to $0.22, and the company’s market capitalization is currently 40% of the value of its Bitcoin treasury. The company is convinced that the ongoing restrictions by the SDNY on Genius pose a serious risk to its ability to continue operations. However, the company also believes the actions it is taking will mitigate these risks. Roger James Hamilton, CEO of Genius Group, said they never thought they would see the day when a U.S. court could block the company from being able to issue shares, raise funds, or buy Bitcoin – actions that would usually be left to a public company’s shareholders or board rather than a court. “We especially did not expect that such destructive actions could be successfully achieved through the courts by individuals who were actively working against the interests of our company’s shareholders and board,” Hamilton said. He has reiterated his commitment to fighting off the fraudsters and market manipulators. “We will continue to take all actions necessary and possible to protect the interests of our shareholders and the future of Genius Group. We will also continue to fly the flag for Bitcoin, even when legally banned from building our Bitcoin Treasury,” Hamilton sa id . Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

Jupiter Exchange has introduced Jupiter VERIFY , a token verification system that aims to help users identify trustworthy projects, straight from the source. This system is here as an answer to a basic need that is often overlooked, such as how to know if the token we see is really legit. Introducing Jupiter Verify – Token Verification, Now 4x Tastier! 🍽️ Token verification in defi is a permissionless nightmare and ever-evolving challenge but getting it right is crucial for the ecosystem to grow. That’s why Jupiter has grinded through multiple iterations of… — mei (@9yointern) April 2, 2025 Through the VERIFY system, Jupiter embeds a special badge next to the token name to indicate its level of trust. It’s like a blue tick on social media, but for tokens. There are several types of verification that tokens can get, and each has its own criteria. First, there is the Blue Chip category. Tokens that are included here are considered to have been tested by time and have wide recognition in the Solana ecosystem. The requirements are also quite strict, they must have a market capitalization of at least $ 100 million for a full month. The Jupiter team keeps track of this list manually as well. Tokens including USDC, JUP, SOL, and even WIF have earned this badge. Perhaps if this were in the actual world, they would be comparable to resilient “established brands.” On the other hand, for new tokens that have not reached that level but have a solid community, Jupiter provides the Community Assisted Verification category. This is where things like an active community, positive “vibes,” and even lore or stories about the token can be the deciding factor. Tokens like JELLYJELLY, for example, are not necessarily giants, but have social influence and trading momentum that make them noteworthy. Uniquely, projects no longer need to apply like in the old system. Now, the Jupiter team will filter 1-3 of the best tokens per day for verification, depending on market conditions. Tokens from celebrities, for example, are often the target of duplication by irresponsible parties. For this reason, Jupiter also introduces Social ID Verification, a kind of stamp that the token is officially recognized by a verified social account. This process can be done via an official tweet or a special form on the Jupiter website and will be released gradually. So that there are no more “similar” tokens that cause losses. No less interesting, there is also C.A.T. Report, stands for Certainty, Alignment, and Transparency. This is where Jupiter acts as a neutral party that verifies the token launch structure—from supply, distribution transparency, to how the project aligns with the interests of the community. This aims to prevent people from buying tokens with empty hopes. If you think about it, this approach is similar to checking hotel reviews before booking. It’s not enough to just look at the photos, but you also need to know the testimonials, reputation, and price structure. Well, Jupiter VERIFY is a kind of “TripAdvisor” of Solana tokens. Furthermore, VERIFY is only part of Jupiter’s big picture. In late February, CNF reported that the platform had also started its first buyback program for JUP tokens. All transactions were carried out transparently via on-chain, showing that they are serious about maintaining the values and trust of the community. Not long after that, Jupiter also acquired DRiP Haus, a digital collectibles platform. Interestingly, only half of the DRiP team immediately joined Jupiter. The rest will continue to run DRiP independently, but will help integrate NFTs into Jupiter. However, market conditions have not always been in line with these big moves. In the last 24 hours, JUP has corrected 2.09% and is trading at about $0.3845. This correction reflects how broader crypto market sentiment is still volatile, even as projects like Jupiter continue to make progress.

U.S. sanctions Houthi-linked Tron wallets The U.S. Treasury sanctioned eight Tron $TRX wallets tied to Houthi financial operations, citing use of Tether’s $USDT to fund weapons and goods from Russia. The wallets are linked to Sa’id al-Jamal, a previously designated global

An unusual but interesting move has come out of a Brazilian court. Amid legal proceedings involving crypto company BWA Brazil, the court has approved the use of non-fungible tokens (NFTs) as a means to serve a subpoena on an unidentified defendant. The company is accused of committing a massive fraud worth around $900 million, equivalent to 11,200 BTC. This case has thousands of investors biting their fingers. Around 7,000 people are said to have fallen victim to the scheme run by BWA Brazil. However, since most of the parties involved can only be traced through their Bitcoin wallets, not their names or faces, the judge has finally approved a novel idea: to serve legal documents via NFTs sent directly to digital wallet addresses. The ruling comes from Judge Rafael Monteiro de Almeida in São Paulo. He allows victims’ lawyers to create custom NFTs containing legal information and send them to Bitcoin wallets associated with suspicious transactions. This approach may sound strange, but imagine: if the person is unknown, has no home address, and is not active on social media—how can the law reach them? A crypto wallet is the only trace that can be used. And as the judge said, it’s better to send a letter to an address that exists than to wait for a door that will never open. On the other hand, this news comes amid the various crypto dynamics that are developing in Brazil. On March 26, 2025, Brazil’s National Data Protection Authority (ANPD) affirmed the ban on the World ID project. The project gained attention due to its promise of cryptocurrency incentives in return for biometric identification. The ANPD considered the practice risky and issued an ultimatum of a daily fine of BRL50,000, approximately $8,771.78, if the ban was violated. On the other hand, the CNF reports that an advisor to Brazil’s Vice President sees Bitcoin as essential for long-term economic resilience. In fact, some legislators are pushing for 5% of Brazil’s foreign exchange reserves to be allocated to Bitcoin. Diversifying the nation’s financial strategy and keeping up with the times are the objectives. This move reflects how digital currencies are no longer considered just “speculators’ toys.” In the eyes of top state officials, Bitcoin can now become a kind of digital gold, a hedge, and a long-term investment vehicle. If Brazil really takes this step, it could drastically change the direction of their fiscal policy. Still not enough? On February 20, 2025, asset manager Hashdex received the green light from the Brazilian Securities and Exchange Commission or Comissão de Valores Mobiliários (CVM) to launch the world’s first spot XRP ETF . The product is traded on the national stock exchange B3 and has immediately attracted global market attention.

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