Curve Founder Reassures: 93% of Lending Positions Repaid

IconCryptoNewsTerminal Staff13 Jun, 2024

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Curve Founder Reassures: 93% of Lending Positions Repaid

Curve (CRV) founder Michael Egorov recently announced via Twitter that "93% of outstanding CRV-collateralized stablecoin lending positions have been repaid." The remaining 7% will be repaid soon, he added. Egorov had previously borrowed nearly $100 million worth of stablecoins against 141 million CRV across five protocols. The largest position was on Curve's own CRV market, which suffered from a $10 million bad debt. "We will make sure this doesn't happen to our users," Egorov said.

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