News View Non-AMP

Justin Sun Moves $35 Million to Binance Amid Curve Finance Crisis

Published by
Mustafa Mulla

Tron founder Justin Sun has transferred $35 million worth of tokens to Binance. This action comes as Curve Finance struggles to recover from a sharp decline in its token value and liquidity challenges.

Recently, the Curve (CRV) token dropped by 34%, leading to the liquidation of 100 million CRV worth of loan collateral from its founder Michael Egorov. Sun’s strategic move suggests he might inject liquidity into Curve Finance to help stabilize the DeFi giant.

Justin Sun Transfer $35M Crypto To Binance

In the past week, Justin Sun moved $35 million in cryptocurrency to Binance, spread across 12 different tokens, primarily DeFi assets. According to on-chain analytical firm SpotOnChain, Sun’s deposit included $3.45 million in ETHFI among other tokens, totaling $12.05 million. 

Additionally, a separate transfer included $6.22 million worth of Curve (CRV) tokens, with $1.96 million of CRV remaining.

Curve Finance has been in crisis following a 34% drop in the CRV token value, which led to the liquidation of $100 million worth of loan collateral posted by its founder, Michael Egorov. 

This plummet has left the Curve ecosystem struggling, with Egorov’s loan portfolio on the verge of liquidation of 371 million CRV loans. The loans, backed primarily by stablecoins like crvUSD, were collateralized by $140 million in CRV.

Sun and Curve

This isn’t the first time Justin Sun has intervened during a Curve Finance crisis. Following last year’s Vyper exploit, Sun provided a stablecoin liquidity injection to stabilize the situation. His recent $35 million transfer to Binance suggests he may be preparing to offer similar support again. 

By acquiring CRV at a discounted rate and moving an array of DeFi tokens to Binance, Sun seems poised to support Curve Finance’s liquidity and reduce the impacts of Egorov’s substantial loan collateralization.

Curve Price Recovery

Sun’s recent acquisitions and transfers suggest he is positioning himself to support Curve Finance’s liquidity. While the cryptocurrency market has recovered by 22% since the initial crash, the CRV token has not regained its $0.40 value. 

As of now, the CRV token is trading at $0.33, reflecting a surge of 11.75% in the last 24 hours, with a market cap of $418 million.

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Recent Posts

Crypto Prices Today (03rd April, 2025): Trump Tariffs Sparks Market Selloff?

The crypto market today has taken a notable hit, following the trade tensions from Trump’s…

April 3, 2025

Bitcoin Price Prediction 2025 : Arthur Hayes Predicts How Low Can Bitcoin Price Go?

Bitcoin dipped 1.41% to $83,437 after Trump’s tariff bombshell rattled markets. With a 24-hour range…

April 3, 2025

Why is XRP Dropping Today?

The cryptocurrency market took a sharp hit on April 2, 2025, following President Donald Trump’s…

April 3, 2025

AI’s Final Warning: Hottest 7 Altcoins Before May

The crypto market appears to have bottomed before traditional equities in the ongoing saga of…

April 3, 2025

XRP Price Dips Below $2 for the First Time in Months

On Wednesday, XRP dropped below the critical $2 mark, retesting the $1.96 level as the…

April 3, 2025

Bitcoin’s Failed $90,000 Attempt Hints at an Impending Price Surge Despite the Fear of a ‘Death Cross’- Will it Reach $100K?

As tariff concerns added to the turmoil, markets were pinched ahead of Liberation Day. Bitcoin…

April 3, 2025