Link copied 
When Michael Egorov, founder of Curve Finance, found himself faced with a plummeting value of Curve (CRV) tokens and enormous debt, he looked towards a group of unexpected buyers to rescue his sinking DeFi loans.
On the brink of financial disaster, Egorov sold a considerable amount of 50 million CRV tokens at the discounted price of $0.40 per token, a move to relieve his escalating debts. This sale came with a condition: a three to six-month vesting or the option to sell if prices hit $0.80.
Among the buyers were some controversial names. Justin Sun, the Tron founder who has recently faced legal actions from the SEC, was one of the prominent figures involved. Other buyers include Jeffrey Huang, aka "MachiBigBrother," who has been publicly accused of embezzling 22,000 Ether over several projects, and DWF Labs, an investment firm.
Concerns were raised by some, like Wintermute CEO Evgeny Gaevoy, about the choice of buyers, calling them "kind of questionable." But desperate times called for drastic measures, and Egorov's decisions were fueled by a need to stay afloat.
The sale of tokens was in response to a critical situation where Egorov had taken out a $100 million DeFi stablecoin loan, using his CRV stash as collateral. A sudden 30% crash in CRV prices had brought the value perilously close to the liquidation price. This situation fueled fears of a potential DeFi black swan event that could flood the markets with CRV, thereby limiting liquidity.
However, signs of recovery are showing. Egorov has managed to pay off more than $17 million in stablecoin loans, easing the burden slightly. Yet, the founder's financial worries are far from over with $60 million, $12 million, and $8 million still pending on Aave, Abracadabra, and Inverse respectively, and an additional $9 million loan on Frax, which has raised eyebrows due to its 85% interest rate.
