In an intense selling spree, Michael Egorov sold a colossal amount of $CRV tokens to various entities, drawing attention to his overwhelming debt
This action would only apply if the loan collateral is twice the amount of the loan, subjecting it to a 5x multiplier. This could potentially force Egorov to return $14.5 million in stablecoins.
The hefty interest increase by Abracadabra and the potential ramifications have placed Egorov in a precarious position. The swift sales and repayments seem to be a strategic move to mitigate the potential fallout from this sudden change. The Curvefi community is on high alert, anxiously observing unfolding events.
While it is difficult to predict the long-term impact of these transactions on the Curvefi ecosystem, Egorov's strategic offloading of CRV tokens underscores the importance of staying as liquid as possible while maintaining a huge debt.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Curve founder Michael Egorov sells more CRV to DCFGod and othersCurve founder Michael Egorov has sold more curve tokens (CRV) in over-the-counter transactions with multiple crypto entities.
Leer más »
Justin Sun buys $2.9 million of CRV from Michael Egorov and partners with CurveA wallet linked to Justin Sun acquired 5 million CRV tokens for $2 million from Curve’s Michael Egorov in a likely OTC deal.
Leer más »
Curve Finance founder's $100M debt could trigger a DeFi implosion: ReportCurve Finance founder Michael Egorov made attempts to lower his debt and utilization rate by paying 4 million to Fraxlend.
Leer más »
Curve Exploit: Curve Founder Michael Egorov’s Loan Positions At Risk? | CoinMarketCapOn July 30, Curve was exploited due to a vulnerability in the Vyper programming language. A drop in the price of $CRV could lead to a liquidation of Egorov’s position and kickstart a liquidation cascade. 👀 Let's dive in 👇
Leer más »
DeFi Died and We Didn’t Even NoticeDeFi may not have always been morally bankrupt, but its egalitarian and democratic aims were likely always doomed, danielgkuhn writes. Opinion for The Node newsletter
Leer más »
Curve founder looks to unexpected counterparties to rescue sinking DeFi loansA CRV fire sale from CurveFinance founder Michael Egorov saw a list of relatively well-known buyers snap up the token at a discount.
Leer más »