The 159.4 million CRV sold by the founder of Curve in August last year will end its 6-month lock-up period on February 1st

According to on-chain analyst @EmberCN's monitoring, Curve founder Michael Egorov's 159.4 million CRV, which was sold over-the-counter (OTC) in August last year, will end its 6-month lock-up period on February 1st. In order to avoid the liquidation of his borrowings on multiple DeFi platforms, Michael Egorov sold 159.4 million CRV at a price of $0.4 to 33 investors/institutions through OTC trading and exchanged it for 63.76 million USDT stablecoins to repay the loans. These CRV tokens were sold at a discount of 30% below market price at that time and had a lock-up period of six months ("moral lock-up," which would not be punished/affected even if violated). The lock-up will end on February 1st, two days later. Although there are no constraints on how the locked tokens can be handled, the majority of investors have complied with the lock-up by storing their CRV in wallets or depositing them into Curve Lockup or Convex protocols. Only two small amounts were sold (12,500 CRV and 50,000 CRV).