Stablecoin exchange agreement founder of Curve, Michael Egorov (michwill), had his CRV lending position liquidated for $140 million. (Curve founder liquidated only exited CRV, emperor not in a hurry)
Michael Egorov finally speaks out:
“Curve Finance team and I have been working hard to address the liquidation risk issue happening today. Many of you know that all of my loans have been liquidated. My position was too large for the market to handle, resulting in a $10 million loss. The impact was most significant on the lend.curve.fi market. I have already repaid 93%, and I plan to repay the rest soon. It will help users avoid this situation.”
Ethereum developer @sassal0x sarcastically commented: “Just don’t buy a mansion then.”
CRV
Curve
DeFi
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