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 <h2 id="aave-community-passes-proposal-to-prevent-additional-crv-borrowing">Aave Community Passes Proposal To Prevent Additional CRV Borrowing</h2> 
 <p>Proposal 286 “Gauntlet Recommendation for <a rel="noopener noreferrer nofollow" title="CRV" href="https://thebittimes.com/tag/crv.html">CRV</a> LTV -&gt; 0 on Aave v2 Ethereum” was passed unanimously by the community. The proposal received 100% “Yes” votes to block additional borrowing against <a rel="noopener noreferrer nofollow" title="CRV" href="https://thebittimes.com/tag/crv.html">CRV</a>.</p>  
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 <p>Gauntlet has been looking into the risk profile of <a rel="noopener noreferrer nofollow" title="Curve Finance" href="https://thebittimes.com/tag/curve-finance.html">Curve Finance</a> founder Michael Egorov. The account borrows roughly $54 million of USDT against $158 million of <a rel="noopener noreferrer nofollow" title="CRV" href="https://thebittimes.com/tag/crv.html">CRV</a>. However, Egorov is quickly paying off his $80 million debt through OTC sales of <a rel="noopener noreferrer nofollow" title="CRV" href="https://thebittimes.com/tag/crv.html">CRV</a> tokens. Currently, a loan of roughly $29 million of USDT against $116 million of <a rel="noopener noreferrer nofollow" title="CRV" href="https://thebittimes.com/tag/crv.html">CRV</a> on Aave is pending, as per DeBank data.</p> 
 <blockquote> 
  <p>“We recommend setting <a rel="noopener noreferrer nofollow" title="CRV" href="https://thebittimes.com/tag/crv.html">CRV</a> LTV to 0 to help impede additional borrowing against existing <a rel="noopener noreferrer nofollow" title="CRV" href="https://thebittimes.com/tag/crv.html">CRV</a> collateral due to the recent decrease in <a rel="noopener noreferrer nofollow" title="CRV" href="https://thebittimes.com/tag/crv.html">CRV</a> liquidity.”</p> 
 </blockquote> 
 <p><a rel="noopener noreferrer nofollow" title="Curve Finance" href="https://thebittimes.com/tag/curve-finance.html">Curve Finance</a> pools suffered a $61 million hack last week. While the hacker has started to return funds, the DeFi platform decides to drag the exploiter to court as the deadline for the voluntary return of funds has passed.</p>  
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 <p>Meanwhile, Curve Finance founder Michael Egorov is almost halfway to paying off his $80 million debt through OTC sales of CRV tokens. As a result, CRV token price jumped 10% on Saturday.</p>  
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 <p><strong>Also Read: XRP Advocate’s Bold Bet, Counting On SEC Appeal Failure In Ripple Case</strong></p> 
 <h2 id="crv-price-looks-weak">CRV Price Looks Weak</h2> 
 <p>CRV price fell 0.50% in the past 24 hours and 5% in a week, with the price currently trading at $0.61. The 24-hour low and high are $0.608 and $0.619, respectively.</p> 
 <p>The price witnessed recovery but the momentum is now weak. The trading volume also fell 70% in the last 24 hours, indicating a lack of interest from investors.</p> 
 <p><strong>Also Read: LUNC Proposal To Re-Enable Terra Luna Classic IBC To Cosmos Chain Passed</strong></p> 
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Aave Proposal To Prohibit Curve Finance CRV Borrowing Officially Passed

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TheBitTimes

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