As a reminder, Curve founder Michael Egorov’s CRV debt position is once again at risk of liquidation

At present, he has borrowed more than 54 million U on multiple lending platforms. The collateral and remaining assets in the wallet are mainly Curve

There is another interesting thing. Michael has borrowed a lot of U from Silo and UwU in the past 24 hours to repay the FRAX loan, replacing the Frax loan with a loan with a lower interest rate while avoiding falling into a loan sharking mode due to excessive utilization. 0xSifu is like this again Two major liquidity providers for lending protocols, providing 12m and 2m stablecoins respectively

Some time ago, @DeFi_Made_Here pointed out that 0xSifu was suspected of borrowing CRV from Silo for short selling. After Michael reduced the amount of CRV deposits and raised the interest rate, sifu repaid the loan.

But now Michael’s health factors in UwU and Silo are only about 1.4. If someone borrows CRV again, it is likely that they will not be able to lower their CRV deposits like last time, because Michael will be liquidated before short sellers.

Let’s see what happens next 👀