Cryptocurrency research and development company DWF Labs recently moved 2 million Curve Tokens (CRV) tokens from the world's largest cryptocurrency exchange Binance to its on-chain wallet.
The move comes after DWF Labs deposited the same amount of CRV in Binance nine days ago, following its over-the-counter (OTC) settlement with an undisclosed buyer two weeks ago.
The CRV altcoin suffered a major meltdown in its price after the Curve Finance platform it is linked to was hacked, and even the Curve Finance founder was in danger of liquidation.
DWF Labs founder Andrei Grachev said on August 22 that they sent 2 million CRV tokens to Binance, and they probably intend to send more. However, Grachev reported that the altcoins in question were sent to the exchange for trading needs, not for sale.
Today, after the company's approximately $966,000 CRV withdrawal from Binance, the amount of CRV tokens in its wallet has increased to 12.5 million. The dollar equivalent of this amount corresponds to 6.03 million dollars.
In his statement on X, Grachev said the following about the last transaction:
“We just sent 2 million CRV altcoins from Binance to our on-chain wallet. We do some inventory management operations. Maybe in the future we can send the coins back to Binance, we will keep you posted.”
Just sent 2M $CRV from Binance to our on-chain wallet. Doing some inventory management. Maybe we will send coins back to Binance in the future, will keep you posted! Enjoy crypto, cheers =) pic.twitter.com/tOTKu4ofGi
— Andrei Grachev (@ag_dwf) August 29, 2023
*Not investment advice.
