The transfer of Michael Egorov, CEO of the decentralized finance (DeFi) protocol Curve Finance (CRV), attracted great attention.
On-chain analytics platform Lookonchain made a statement on December 22. to share According to CEO Michael Egorov, to Binance large amount CRV deposited.
In the transfer in question, the CEO 11.4 million dollar 18.5 million CRV world’s largest cryptocurrency exchange to Binance transferred.
The founder of Curve Finance had a serious problem due to the debts he had previously taken by depositing CRV. CRV of supply 32% Egerov, who opened a position with Curve’s liquidity pools fell due to attack on CRV price It was almost liquidated.
Realizing this danger, the founder took action quickly and OTC by $0.40 worth millions of dollars CRV had sold. The founder then launched the decentralized finance protocol Aave (AAVE). your entire position closed.
Egorov, who still holds the majority of the supply, may have made the transfer for the purpose of selling.
According to CoinGecko data, in the last 24 hours 1.3% decrease live CRV, while writing from $0.602 is being traded.