Huobi co-founder Jun Du purchased 10 million curve tokens (CRV) for $4 million from Curve founder Michael Egorov.
I'll lock in for at least a year and hope the Curve gets better and better," he said.that he supported Curve in the same way as when BendDAO had a liquidity crisis. He said,"
The current difficulties are only temporary, and the industry will be healthier if we support it together." Du is the CEO of New Huo Tech, a digital assets service platform, and the co-founder and GP at web3 fund ABCDE.Egorov is continuing to sell CRV tokens to strengthen his loan position. He has multiple loans on various DeFi lending platforms, mostly to borrow stablecoins using CRV as collateral. On Aave alone, he has borrowed $56 million of stablecoins with $149 million of CRV as collateral.
Currently his health ratings having improved to around 1.67 or higher on these platforms. Yet there is still a risk that were the price of CRV to fall low enough, his positions could be liquidated, potentially leaving these platforms with bad debt. This issue is more serious because it involves such a large portion of the CRV supply.
So far, Egorov has sold 72 million CRV — per Nansen analyst Sandra Leow — to various parties including Tron founder Justin Sun,
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