The founder of Curve Finance has earned $6,426 by selling 160 million CRV via OTC this month

According to news on August 29, Dune Analytics data shows that Curve Finance founder Michael Egorov has sold a total of 160 million CRV through OTC transactions since August 1. Based on his previous transaction at a price of 0.4 US dollars, it is expected to be exchanged for $6,426.

In addition, DefiLlama data shows that among the CRV loans of Aave V2, there are 118.9 million CRV with a liquidation price of 0.249 USDT, and this part of CRV is worth approximately US$30 million. Coingecko data shows that the price of CRV is now at $0.4879, a 24-hour increase of 6.4%.

It is reported that in order to save his loans and possibly prevent the cascading liquidation of the entire DeFi field, Michael Egorov reached a series of over-the-counter transactions (OTC) with more than a dozen counterparties, selling a large amount of CRV in exchange for stable coins to repay debts. Egorov confirmed in a statement that buyers who violate the cooperation agreement will not be negatively affected, but he "assumes they will" comply with the commitment regarding the six-month lock-in period.