Huobi’s Jun Du acquires 10 million CRV tokens to support Curve
Du said the existing challenges were transitory and that he believes the industry would benefit from collective support. Jun Du, the co-founder of Huobi, has purchased 10 million Curve DAO Tokens (CRV) for $4 million from Curve Finance founder Michael Egorov, who is seeking to decrease his exposed loan position. In an initial tweet on August 1, Du made his intention known to acquire 10 million CRV tokens at the prevailing market rate of $0.40, a value established through various over-the-counter transactions involving Egorov and several members of the crypto community. A Block report states that subsequently, Du confirmed via direct message on Twitter that he successfully completed the purchase and decided to lock up the tokens as veCRV. This lockup provides him with voting rights on the Curve platform in return for keeping the token s inaccessible for a specific duration. Screenshot showing Jun Du's 10 million CRV token transaction. Source: EtherScan The co-founder took to Tw...