{"id":155399,"date":"2023-09-14T01:37:52","date_gmt":"2023-09-13T20:07:52","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=155399"},"modified":"2023-09-14T01:37:52","modified_gmt":"2023-09-13T20:07:52","slug":"curve-crv-dips-below-0-40-as-founders-tokens-move-to-binance-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/curve-crv-dips-below-0-40-as-founders-tokens-move-to-binance-crypto-news\/","title":{"rendered":"Curve (CRV) Dips Below $0.40 As Founder&#8217;s Tokens Move To Binance &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The price of Curve DAO (CRV) tokens briefly fell below $0.40 on Wednesday as over-the-counter (OTC) transfers made by the DeFi project\u2019s founder, Michael Egorov, were later transferred to Binance.<\/p>\n<ul>\n<li>As reported by blockchain security firm PeckShield, one of Egorov\u2019s counterparties from last month. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/x.com\/PeckShieldAlert\/status\/1701869915291234695?s=20\" data-wpel-link=\"external\">transferred<\/a> 609,000 CRV tokens to Binance on Wednesday. When investors send funds to exchanges, analysts generally view this as reflecting an intention to sell.<\/li>\n<li>The counterparty bought 2.5 million CRV from the founder for 1 million USDT last month, as part of a joint effort to reduce liquidation risks associated with the founder\u2019s $100 million DeFi debt burden. Another investor included Tron founder <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/trons-justin-sun-buys-5m-crv-tokens-to-help-curve-finances-bad-debt-situation\/\" data-wpel-link=\"internal\">Justin Sun<\/a>, who bought 5 million CRV from the founder.<\/li>\n<li>\u201cInvestors who bought CRV from Michael Egorov at $0.40 are currently at a loss,\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/x.com\/lookonchain\/status\/1701874407034306941?s=20\" data-wpel-link=\"external\">noted<\/a> analytics platform Lookonchain. At 3:30 a.m. ET on Wednesday, CRV traded for just $0.38.<\/li>\n<li>However, the counterparty appears to have returned their 609,000 CRV from Binance just a few hours later, on-chain data shows. The token\u2019s price has since recovered to $0.404.<\/li>\n<li>In total, Ergorov sold $46 million worth of CRV to investors in early August. Alongside Sun, other investors included trading firm Wintermute and NFT investor Jeffrey Huang.<\/li>\n<li>The largest counterparty to Ergorov appears to be an anonymous OTC entity, which bought 17.5 million CRV from the founder.<\/li>\n<\/ul>\n<div class=\"code-block code-block-12\" style=\"margin: 8px 0;clear: both\">\n<div><span style=\"font-size:11px;color: gray\">SPECIAL OFFER (Sponsored)<\/span><br \/>\n<b>Binance Free $100 (Exclusive): <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/pl\/binancebanner\" data-wpel-link=\"internal\">Use this link<\/a> to register and receive $100 free and 10% off fees on Binance Futures first month<\/b> (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/buy-bitcoin-5-easy-steps\/\" data-wpel-link=\"internal\">terms<\/a>).<\/p>\n<p><b>PrimeXBT Special Offer: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptopotato.com\/pl\/primexbt2\" data-wpel-link=\"internal\">Use this link<\/a> to register &amp; enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.<\/b><\/p>\n<\/div>\n<\/div>\n<p><!-- AI CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The price of Curve DAO (CRV) tokens briefly fell below $0.40 on Wednesday as over-the-counter (OTC) transfers made by the DeFi project\u2019s founder, Michael Egorov, were later transferred to Binance. As reported by blockchain security firm PeckShield, one of Egorov\u2019s counterparties from last month. transferred 609,000 CRV tokens to Binance on Wednesday. When investors send [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":155400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-155399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/155399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=155399"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/155399\/revisions"}],"predecessor-version":[{"id":155402,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/155399\/revisions\/155402"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/155400"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=155399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=155399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=155399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}