
SWINGKING
85 posts

SWINGKING
@LunchBoxSignal
Best Performing Trader



So I have not wanted to a gofundme but somebody launched a token on PumpFun that generated me nearly $50k in fees It feels super weird to generate money off of people trading a random token but thousands of people asked me to tweet the CA. So here it is: 5hiLgyybrAYPpUwNFa38agfZ8iEtnahWKAPixcfspump

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Curve's founder pulled $100 MILLION out of his own token to buy two Australian mansions and left holders with a token that dumped 98% In 2023 Curve Finance founder Michael Egorov took out $100 million in stablecoin loans across Aave, Frax, Inverse, Abracadabra and other protocols His collateral was 427 million CRV, which was 47% of the circulating supply of his own token Lookonchain traced $31 million in stablecoins flowing from Egorov to Bitfinex in April 2023 One month later his wife bought a $41 million mansion in Melbourne, right next door to the $18 million home they had purchased the year before That's $59 million in Australian real estate funded by loans against the token his own community was holding In July 2023 Curve was hacked for $70 million through a Vyper bug, CRV crashed and his positions almost got liquidated A liquidation would have created tens of millions in bad debt across Aave, Frax and other protocols and triggered a DeFi wide catastrophe To avoid this Egorov sold 106 million CRV in OTC deals at $0.40 per token, well below the market price, to a roster that included Justin Sun, convicted felon Michael Patryn, Jeffrey Huang, DWF Labs and several anonymous wallets He raised $42 million in stablecoins from these deals while community holders watched CRV dump In April 2024 he had to do it again, selling another 159 million CRV in OTC to 33 different buyers for $63 million In June 2024 CRV crashed 24% in 3 hours and he got fully liquidated for $140 million across 5 protocols The liquidation created $10 million of bad debt that the community had to absorb Ethereum developer Eric Conner did the math: "He got 100 million in stables out of a 140 million CRV position. He just transferred the rektage to the community instead" Egorov's response was that he was "committed to building Curve more than ever" thanks to veTokenomics, meaning he locked his remaining CRV to keep control of governance CRV is down 98% from its all time high and Egorov still owns the two mansions and the protocol When the founder of your protocol uses your bag as collateral for his mansion, you're not an investor You're his ATM







Which chart should I analyse next?












