Arkham: Curve founder’s $140 million CRV may be close to liquidation

Odaily Odaily News Arkham posted on X at around 1:30 am today that $140 million of CRV is close to liquidation. Curve founder Michael Egorov currently borrows $95.7 million in stablecoins (mainly crvUSD) on 5 accounts of 5 protocols with $140 million of CRV as collateral. Based on the current interest rate, Egorov needs to pay $60 million a year to maintain his position in Llamalend. Egorov has $50 million of crvUSD borrowed on Llamalend, currently spending about 120% APY. This is because there is almost no remaining crvUSD to borrow on Llamalend with CRV as collateral, and Egorov's 3 accounts already account for more than 90% of the crvUSD borrowed on the protocol. If the price of CRV drops by about 10%, these positions may begin to be liquidated.