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Crypto Company Ordered to Sell Bitcoin Amid Legal Battle

  • A legal battle has placed severe financial restrictions on a crypto company, preventing it from raising funds and acquiring Bitcoin.
  • The U.S. District Court for the Southern District of New York granted a preliminary injunction, blocking the company from generating revenue through stock sales.
  • A Temporary Restraining Order (TRO) has been issued, forcing the company to liquidate its Bitcoin reserves.
  • The legal battle and court order have led to a significant decrease in the company's Bitcoin reserves and stock value.

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