TechFlow reported on June 30 that Christian, co-founder of the crypto fund NDV and an NFT whale, responded on X, clarifying that the 400,000 USDT was not used to purchase CRV, but rather to buy locked CVX. The CRV he received was from prior purchases, and he did not dump any tokens. The drop in CRV price was due to other whales transferring millions of tokens for use as collateral.
Previous report: According to X user @maid_crypto, some on-chain analysts pointed out that an address suspected to belong to Christian bought $400,000 worth of CRV from Curve founder Michael Egorov at an OTC price of 0.107 USDT per token on June 21, then sold all of it the next day at 0.333 USDT each, causing CRV's price to drop by 5%. On June 28, he reportedly received an equal amount of CRV again from the Curve founder.
