Wu Shuo learned that, according to Bloomberg, the crypto lending institution Genesis Global Capital has sued its parent company Digital Currency Group (DCG), seeking to recover over 1 billion USD in fund transfers made within the year prior to filing for bankruptcy. Genesis filed the lawsuit on Monday in the U.S. Bankruptcy Court for the Southern District of New York, alleging that insiders including DCG, DCG founder Barry Silbert, and related parties engaged in intercompany fund transfers while the company was insolvent. The company aims to classify these transfers as "preferential payments" under bankruptcy law to void and recover the associated amounts. These cryptocurrency payments are valued at over 582 million USD, while the total amount of preferential transfers exceeds 1.20 billion USD (based on current data).

Wu Shuo has learned that, according to Bloomberg, the crypto lending institution Genesis Global Capital has sued its parent company Digital Currency Group (DCG), seeking to recover over 1 billion USD in fund transfers that occurred within one year prior to filing for bankruptcy. On Monday, Genesis filed a lawsuit in the U.S. Bankruptcy Court for the Southern District of New York, alleging that insiders, including DCG, DCG founder Barry Silbert, and related parties, conducted mutual fund transfers while the company was insolvent. The company aims to classify these transfers as "preferential payments" under bankruptcy law, thereby reversing and recovering the amounts involved. These cryptocurrency payments are valued at more than 582 million USD, while the total amount of preferential transfers exceeds 1.20 billion USD (based on current data).

Genesis sues parent company DCG, demanding the recovery of over 1 billion USD transferred within one year before filing for bankruptcy