Curve Founder Michael Egorov Has Sold 72 Million CRV Tokens OTC

Odaily Planet Daily News According to data from the on-chain analysis company Lookonchain, Curve Finance founder Michael Egorov has sold 72 million CRV tokens to 15 entities for $28 million in a series of important over-the-counter transactions . This finding was corroborated by data from Spotonchain’s Dune Analytics dashboard, as well as Nansen analyst Sandra Leow. Egorov’s selling behavior coincides with a difficult time for the CRV token. Its value has dropped 22% in the past month, the result of security breaches exploited by multiple factory pools on the platform. Currently, CRV tokens are trading at $0.58. Market analysts believe that Egorov’s decision to sell CRV tokens was an attempt to proactively reduce his debt on DeFi platforms, thereby avoiding potential liquidation risks associated with his large loan positions. Lookonchain statement: "Curve Finance founder Michael Egorov sold a total of 72 million CRV to 15 institutions/investors at a price of $0.40 each through OTC transactions, and received $28.8 million to repay debt."