CRV has been turned into a time bomb by the founder of a luxury mansion.
As early as August 2023, Curve founder Michael Egorov held approximately 50% of the circulating supply of CRV (approximately 500 million tokens), but was unable to sell it (due to lack of liquidity, image concerns, etc.), so he chose to mortgage the CRV to borrow cash.
According to DeBank data, as of the time of publication, the single largest loan is on Fraxlend -- depositing approximately 63 million CRV and borrowing approximately $16 million, with a health factor of 1.31, which also means that if CRV falls by another 23%, it will be liquidated....
