Home > Information news > Curve Founder's CRV Gets Attention from Justin Sun and DCF God

Curve Founder's CRV Gets Attention from Justin Sun and DCF God

Release: 2023/08/02 02:30 Reading: 294

Original author:TheBitTimes

Original source:https://coinmarketcap.com/community/articles/64c94cca992a8b28b5db2da5

Curve Finance, a leading decentralized exchange known for its liquidity and cost efficiency, has found itself grappling with significant challenges in the aftermath of a major exploit. On July 30, the exchange suffered an exploit amounting to more than $47 million, attributed to a Vyper reentrancy lock malfunction.

Following the exploit, the token’s price experienced a sharp decline, dropping by almost 20% since the attack. Recent reports have surfaced, indicating that Michael Egorov, the founder of the exchange Curve Finance, has allegedly taken loans secured by approximately 47% of the total circulating CRV.

Also read: BALD Faces Rug Pull Fears as Developer Withdraws Liquidity

However, amidst the troubled situations, Egorov received notable support from prominent players in the cryptocurrency industry.

Justin Sun, DCF God, and others come to Curve Finance’s rescue

The founder of the Tron blockchain, Justin Sun, has demonstrated his support for Curve Finance. He is acquiring a significant number of CRV tokens. According to on-chain analyst Lookonchain, Sun completed the purchase of nearly 5 million CRV tokens from a wallet labeled “Curve.fi Founder” through an over-the-counter transaction. The acquisition was carried out at an average price of $0.4 per token, amounting to just over $2.3 million.

Also read: Dogecoin Co-founder Questions FTX’s Move Beyond USA

Joining Sun in expressing confidence in Curve Finance, several other prominent entities have also made notable CRV token purchases. Machi Big Brother acquired 3.75 million CRV tokens, while DWF Labs and Cream.Finance obtained 2.5 million CRV tokens each.
  • CRV
  • Curve Finance
  • Justin Sun

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.