According to reports, the cryptocurrency lending institution Genesis Global Capital has sued its parent company Digital Currency Group (DCG) to recover over $1 billion in fund transfers made within a year before filing for bankruptcy. Genesis filed the lawsuit in the Southern District of New York bankruptcy court, stating that DCG, DCG founder Barry Silbert, and their affiliates transferred funds to each other during the company's insolvency. The company seeks to have these transfers classified as 'preferential payments' under bankruptcy law, allowing them to reverse and recover the relevant amounts. These cryptocurrency payments are valued at over $582 million, while the total amount of preferential transfers exceeds $1.2 billion.