Curve founder Michael Egorov (@newmichwill) has reportedly sold 5 million $CRV tokens to Justin Sun in an apparent OTC deal, with an average price of $0.4, while also repaying 2 million Frax to FraxLend.
Crypto tracking platform Scopescan has revealed that Michael Egorov, the founder of Curve, recently completed two significant transactions. First, Egorov sold 5 million $CRV tokens to Justin Sun in an over-the-counter (OTC) deal, with an average price of $0.4 per token. The transaction indicates that both parties preferred a private sale, most likely to avoid price fluctuations on public trading platforms.
In addition to the OTC deal, Egorov also repaid 2 million Frax to FraxLend, a popular lending platform in the cryptocurrency space. The motivation and implications behind these transactions are currently unclear. However, these activities have attracted attention within the crypto community, as stakeholders anticipate the possible effects on the Curve ($CRV) token and the broader market.
