Justin Sun, founder of Tron blockchain, has purchased 5 million CRV tokens from Curve Finance founder Michael Egorov's wallet to protect against a possible bad debt situation. Sun paid an average price of $0.4 per token in an over-the-counter transaction, amounting to just over $2.3 million. Egorov's loan could be liquidated at a price level of $0.37, which is lower than Sun's purchase price. Other DeFi players also stepped in to purchase discounted CRV tokens via OTC trading after Sun's purchases.
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Tron Founder Justin Sun Buys 5 Million CRV Tokens to Protect Against Bad Debt Situation
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Justin Sun has deposited 166 million USDT to Binance in the past 7 hours
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Justin Sun redeemed 85.53 million USDT from JustLend 4 hours ago and immediately transferred it to Binance
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