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 a tweet on Aug. 1, Du revealed his intention 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 report in The Block states that Du confirmed via direct message on X (formerly Twitter) that he completed the purchase and decided to lock up the tokens as veCRV, giving him voting rights on the platform.