$CRV crv plummeted, catching short contract holders off guard. It is said that $140 million of CRV is close to liquidation.

Curve founder Michael Egorov currently borrows $95.7 million of stablecoins, mainly crvUSD, with $140 million of CRV as collateral on 5 accounts of 5 protocols. Based on the current interest rate, Egorov needs to pay $60 million a year to maintain his position on LlaMalend. Egorov has $50 million of crvUSD borrowed on LlaMalend, currently spending about 120% of its APY.

Since there is almost no remaining crvUSD to borrow on LlaMalend with CRV as collateral, Egorov's 3 accounts already account for more than 90% of the crvUSD borrowed on the protocol.

If CRV falls by about 10%, these positions may begin to be liquidated.