Curve founder Michael Egorov sells CRV, UWU to prevent liquidation

IconCryptoNewsTerminal Staff13 Jun, 2024

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Curve founder Michael Egorov sells CRV, UWU to prevent liquidation

Curve (CRV) founder Michael Egorov's address is selling CRV and UWU to prevent further liquidation. The address swapped 3.1 million CRV for 810k USDT, 2,100 UWU for 5,680 CRVUSD, and 13,000 UWU for 27k USDT in the past 3 hours, swapping all USDT to CRVUSD to prevent liquidation. The address had borrowed stablecoins against CRV and faced margin calls as CRV declined.