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.