Michael Egorov, the founder of Curve Finance, has offloaded 72 million CRV tokens in a series of significant over-the-counter deals.
to crypto trader DCFGod, with 3.75 million CRV going to NFT owner Jeffrey Huang, known as Machi Big Brother.the procurement of 10 million CRV tokens for $4 million and subsequently informed on Twitter his decision to stake the tokens on Curve.
Notably, Egorov’s debt situation on the DeFi lending platform Aave sheds light on his financial strategies. Just yesterday, he had aon Aave amounting to $60 million, backed by CRV collateral. Today, it’s down to $49 million, illustrating how he’s used the CRV sell-off to manage these repayments. Currently, Egorov holds a total of 374 million CRV tokens, valued at approximately $220 million in collateral with debt of $79 million across 5 DeFi platforms,© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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