Curve Founder Begins Liquidating Borrowed Positions, Analysts Say

IconCryptoNewsTerminal Staff13 Jun, 2024

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Curve Founder Begins Liquidating Borrowed Positions, Analysts Say

Analysts are reporting that Curve founder Michael Egorov has begun liquidating his borrowed positions. This news comes after it was reported that Egorov had borrowed $95.7 million in stablecoins against $141 million worth of CRV. With CRV's recent price decline, Egorov's positions have fallen below the liquidation threshold. If CRV continues to decline, Egorov could face large-scale liquidations. He is reportedly paying $60 million annually to maintain his positions on Curve's own lending protocol, LlamaLend. This situation highlights the risks associated with leveraged trading and borrowing.

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