[Curve Chief almost liquidated $150 million in CRV in weekend crypto crash]

The recent geopolitical tensions have caused turmoil in the crypto market, and the Curve Finance community has once again paid attention to the potential risks of founder Michael Egorov.

On Saturday, Egorov faced a liquidation crisis on its highly leveraged CRV position, involving more than $150 million, and the CRV price briefly fell below $0.38. On-chain analyst EmberCN noted that there are five addresses holding a total of $93 million in stablecoins as collateral for 372 million CRV (worth $162 million).

Additionally, the Silo platform’s 20 million CRV position briefly fell below the liquidation threshold but was not liquidated. Egorov responded by creating a new Curve pool to balance interest rates across three crvUSD loan pools, seemingly responding to speculation about his financial plans and personal investments.

Curve Finance’s counterparties sold CRV heavily after the end of the “gentleman’s agreement,” demonstrating market instability.

Egorov's turmoil has made the Curve community sit on pins and needles. If its position reaches the liquidation threshold, it will trigger a chain liquidation of CRV collateral, causing the price to plummet further. This is called the "liquidation waterfall."

This could be disastrous for Curve holders and projects participating in the “Curve Wars.” These projects typically accumulate large amounts of CRV to gain voting rights.

Egorov has faced liquidation risks several times after Curve was hacked. In the last liquidation crisis, he sold nearly 40 million CRV at $0.40 per share to pay off debt.

In early February, when the handshake agreement ended, approximately 8.75 million CRV were quickly sold for a profit of approximately 17%, all with the understanding that the tokens would not be sold for six months.

#鴉快訊 $CRV @Curve Finance