The post DWF Labs dumps 12.5M Curve Dao token at 17% loss appeared on BitcoinEthereumNews.com.

DWF labs offloaded all of its over-the-counter bought Curve DAO Token (CRV) to Binance, booking a loss of 17.5%. The crypto trading firm acquired the CRV tokens it liquidated from Curve’s founder, Michael Egorov, at around $0.40 during last year’s liquidation fiasco. CRV has been on the decline since the hacking incident it suffered back in 2023. Curve DAO Token price has dropped by over 45% over the year-to-date (YTD) period. The price decline has also led it to lose its spot in the list of the largest 100 cryptos. DWF Labs offloads its CRV holdings  According to the data shared by Spotonchain, DWF labs deposited all of its CRV OTC holdings over the past few days. It offloaded all of its 12.5 million CRV, worth approximately $4.12 million, to Binance in the last 28 hours. The last 10.5 million CRV, worth approximately $3.44 million, were transferred out in the past 9 hours. The crypto trading firm bought these tokens at an OTC price of $0.4, while the average CEX deposit price stood at $0.33. DWF Labs is completely out of CRV tokens now in what could be a strategic exit or damage control for the firm. DWF Labs has deposited all their OTC-bought $CRV to Binance at a loss! In the past 28 hours, @DWFLabs deposited all 12.5M $CRV ($4.12M) to #Binance, of which the last 10.5M $CRV ($3.44M) was transferred out 9 hours ago. With an OTC-buying price of $0.4 and an average… https://t.co/vbpeq1WLaU pic.twitter.com/LbBkxnVY6c — Spot On Chain (@spotonchain) August 23, 2024 Earlier, crypto trading firm DWF Labs planned to buy $12 million worth of FLOKI tokens from both the open market and Floki’s treasury. This follows the $10 million FLOKI tokens DWF Labs reportedly purchased in February. The crypto trading firm first partnered with Floki in…

---

Filed under: News - @ August 23, 2024 9:19 am