Coin

<ul class="news-points"> 
 <li><strong>Curve Finance founder, Michael Egorov is facing huge debt risks as he has a $100M loan backed by 427.5m $CRV.</strong></li> 
 <li><strong>Egorov’s attempt to lower the utilization rate by launching a new liquidity pool worked.</strong></li> 
 <li><strong>The DeFi ecosystem could be impacted by a decline in CRV prices brought on by the possible liquidation.</strong></li> 
</ul> 
<p>Curve Finance’s founder, Michael Egorov, <a href="https://finance.yahoo.com/news/curve-exploit-curve-founder-michael-081342185.html?soc_src=social-sh&amp;soc_trk=tw&amp;tsrc=twtr" target="_blank" rel="noopener noreferrer nofollow">is facing a lot of debt risks</a>. Due to his 15.8 million FRAX debt and 59 million Curve DAO (CRV) collaterals, Egorov is in a risky position, according to Delphi Digital, a company that conducts market research on digital assets.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr">1/ Yesterday, several <a href="https://twitter.com/CurveFinance?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@CurveFinance</a> pools were exploited.<br><br>Curve founder, Michael Egorov, currently has a ~$100M loan backed by 427.5m <a href="https://twitter.com/search?q=%24CRV&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CRV</a> (about 47% of the entire CRV circulating supply).<br><br>With <a href="https://twitter.com/search?q=%24CRV&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CRV</a> down 10% over the past 24 hours, the health of Curve is in jeopardy. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2b07.png" alt="⬇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/EKpQCkDs6W" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/EKpQCkDs6W</a></p>— Delphi Digital (@Delphi_Digital) <a href="https://twitter.com/Delphi_Digital/status/1686187959303708672?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 1, 2023</a> 
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<p>Egorov has a $305 million CRV backing a 63.2 million USDT loan on Aave. His current position is eligible for liquidation at 0.37 CRV/USDT which would require approximately 33% drop in CRV price. Delphi Digital added that he should also pay nearly 4% annua…</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/curve-finance-hacks-update-and-current-high-debt-situation/">Curve Finance Hack’s Update and Current High Debt Situation</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

Curve Finance Hack’s Update and Current High Debt Situation

Coin Edition

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