Curve Finance founder Michael Egorov, whose nearly $170 million decentralized finance loan position is in jeopardy, has been selling for reasons that are not entirely clear.

Egorov sold 5 million of the CRV token, currently priced at $0.59, to Justin Sun via over-the-counter sales. The sales were made at 0.4 dollars. Egorov sold 7 more wallets at the same price. The Curve founder, who has so far sold 39 million CRVs through over-the-counter (OTC) transactions, earned 15.8 million USDT.

Agreement with TRON

The reason for these sales is still not fully disclosed, but Justin Sun announced a new partnership between TRON and Curve following their purchases. Sun said, “We are happy to support Curve. We are now partners, ready to help when needed. As a result of the partnership, a stUSDT pool will be created on Curve.

Therefore, the sales made at cheap prices both provided Egorov with hot money and TRON made a deal with Curve.

On the other hand, Egorov is also making various moves to protect his large DeFi position at risk. Paying off a 5.13 million FRAX stablecoin loan and thus recovering 12.5 million CRV token collateral, Egorov moved these tokens out of Fraxlend and moved them to another wallet. Before these transfers, Egorov’s wallets received USDT transfers from various anonymous addresses.

The CRV token price is trading at around $0.59 at the time of writing.