#egorov

2) fave mission(s)

😍 Voskhod-1!

😍 Apollo-Soyuz Test Project!

😍 JUNO Mission (Soyuz TM-12)!

10M CRV Bought by Huobi Co-Founder Lends Hand to Michael Egorov

(adsbygoogle = window.adsbygoogle || []).push();

Share this article

Jun Du, co-founder of Huobi, has purchased 10 million CRV from Curve’s founder Michael Egorov for $4 million. This significant transaction was initially heralded on Twitter by Du himself and later confirmed by on-chain analytics.

The acquired CRV tokens were immediately locked as veCRV, providing Du with voting rights on the Curve platform for a year, confirmed by The Block.

Du has been vocal about his support for Curve, comparing his backing to his previous support during BendDAO’s liquidity crisis. He has expressed confidence in the platform’s future, tweeting that “the current difficulties are only temporary, and the industry will be healthier if we support it together.”

Plus, Egorov has around $100 million in loans across various protocols, adding up to 47% of CRV supply in circulation. He borrowed $56 million of stablecoins, using $149 million of CRV as collateral on Aave, for example. These loans were reportedly used to buy assets such as properties:

“These position sizes that are at risk of liquidation are in the 8 figure range. Thus, the $CRV price could potentially tank to extreme lows, causing knock-on effects over a large part of the DeFi ecosystem.”

Curve suffered a Vyper programming language exploit on July 30, leading to a near collapse of the protocol due to a drain in CRV liquidity pools.

Du’s transaction helps improve Michael Egorov’s risk of total CRV liquidation on his substantial borrowings across various decentralized finance lending platforms, and has been raising more funds to prevent a total collapse or black swan event, as some have predicted.

Ergorov then staked 300M CRV as collateral in other lending protocols like Aave and borrowed 60M USDT. This approach was chosen instead of market dumping, as selling 60M worth of CRV in the open market would cause the price to crash.

17/ Update: Egorov seems to have raised more than $15M in stablecoins through $CRV OTC sales.

The arrangement is a handshake agreement for a three to six-month lockup on the tokens, that can also be sold at $0.80 if the price rises that high. (via @TheBlock__) pic.twitter.com/kRDREsswoV

— Delphi Digital (@Delphi_Digital) August 1, 2023

Egorov has already parted with 55 million CRV in transactions with Justin Sun of Tron, crypto trader known as DCFGod and Andrew Kang from Mechanism Capital.

The Curve OTC War updates:

17.5M CRV to 0xf51 5M CRV to Justin Sun 4.25M CRV to DCFGod 2.5M CRV to Ox4d3 2.5M CRV to DWF Labs 2.5M CRV to Cream: Multisig 1.25M CRV to 0xcb5 3.75M CRV to machibigbrother.eth 250k CRV to 0x9bf

— Sandra (@sandraaleow) August 1, 2023

Meanwhile, a proposal within the Aave governance community by the Aave Chan Initiative, suggesting the purchase of CRV worth up to $2 million. If accepted, these tokens could be secured as veCRV for a duration that may span up to four years.

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

(adsbygoogle = window.adsbygoogle || []).push(); #10M #CRV #Bought #Huobi #CoFounder #Lends #Hand #Michael #Egorov

“You will be judged”: Snezhana Yegorova’s daughter calls to block her mother’s YouTube channel

In this difficult time for everyone, Snezhana Egorova continues to record videos and support Putin Stasya Rovinskaya urges to block mother’s YouTube channel / Photo: Facebook page of Stasia Rovinskaya We have repeatedly published news about the scandalous statements of Snezhana Yegorova, who openly supports Putin. But it is simply impossible to believe, but even at the moment when Putin…