The US government has ignited a selloff scare for AAVE after initiating its first transaction for the token in 8 months. According to data insights from Arkham Intelligence, the US Government transaction features a total of $5.4 million.
Is the US Government Earning With Aave?
Per the data shared, the funds were originally secured from the Bitfinex Hacker as marked by Arkham Intelligence. However, the exact transactions remains partly unclear considering the funds are paid out in USDC.
According to comments from the community, one explanation for this is that the US government locked up the funds on Aave. Based on this, it started earning interest as a liquidity provider on the Decentralized Finance (DeFi) lending platform.
This is a developing story, please check back for updates!!!
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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