Curve Finance Founder Sells 72 Million CRV Tokens to Repay Debts

08/03 17:42

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Michael Egorov, the founder of Curve Finance, has reportedly sold 72 million CRV tokens to 15 entities for $28 million in an over-the-counter deal. The sale coincides with a difficult period for the CRV token, which has decreased in value by 22% in the past month due to a security breach. Market analysts believe that Egorov's decision to sell the tokens is a proactive measure to reduce his debt on DeFi platforms and avoid potential liquidation risks. Notable buyers include an anonymous address, Tron's founder Justin Sun, and crypto trader DCFGod.

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