CRV Founder Repays 1 Million $Frax Debt and Withdraws 2.5 Million $CRV Collateral, $CRV Rebounds

On-chain data reveals that one of the founders of Curve, Michwill, exchanged 1 million $USDT for $FRAX and repaid a 1 million $FRAX debt, subsequently withdrawing approximately 2.5 million $CRV as collateral. As a result, $CRV experienced a short-lived rebound to 0.56 USDT, with a surge of over 16% from its lowest point.