PANews reported on June 30 that in response to community users’ concerns that Curve’s founder was suspected of selling 400,000 USDT of CRV off-site, NextGen Venture co-founder Christian (@Christianeth) said on the X platform, “The 400,000 USDT was not used to buy CRV, but to buy locked CVX; the CRV received was purchased before; there was no market crash, and it was impossible to sell so much. The decline was due to other whales transferring tens of millions into the exchange, and the transfer into the exchange was to repay the collateral.”

Earlier news, according to crypto community user @maid_crypto on the X platform, some on-chain analysts pointed out that the address suspected to be @Christianeth purchased CRV worth 400,000 USDT from Curve founder Michael Egorov at an off-market price of 0.107 USDT on June 21, and sold all of it at a price of 0.333 USDT the next day, causing CRV to fall by 5%. On June 28, it obtained the same amount of CRV from the founder of Curve again.