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Over the past few days, the DeFi space has been buzzing with news of a significant leveraged position in CRV tokens across major lending protocols. The focus is on a wallet associated with Michael Egorov, co-founder of Curve Finance, a decentralized exchange.
Here's a detailed explanation of CRV's recovery after an initial FUD. While the protocol health improved, sentiments stayed gloomy.
Curve DAO token (CRV) has observed a 7% bounce during the last 24 hours as mass liquidations of short traders have occurred in the market. Curve Funding Rates Turned Extremely Negative Following Price Decline According to data from the on-chain analytics firm Santiment, an extreme amount of shorts had accumulated on the cryptocurrency exchange Binance recently.
A risky loan in AAVE and the resulting liquidation threat for CRV have pushed the governance token to a 1-year low, but there is a chance for a powerful short-squeeze.
Lending protocol Aave DAO has already been recommended to “freeze” millions worth of CRV tokens.
The Curve Finance DeFi stablecoin protocol is on shaky ground at the moment as the bad crypto news keeps coming. Large amounts of CRV tokens are at risk of liquidation as an account believed to belong to the founder has run up a huge debt position.
The proposal suggests that a cap should be imposed on the use of CRV as collateral, preventing this wallet address from adding more loans.
Gauntlet advised the Aave community to freeze CRV tokens associated with a wallet that borrowed $65 million in stablecoin.
Michael Egorov, the CEO of decentralized finance (DeFi) firm Curve Finance, is being sued for fraud by venture capital firms ParaFi Capital, Framework Ventures, and 1kx. A complaint filed in the Superior Court of California, San Francisco, alleges Egorov misappropriated trade secrets of the three VC firms, and defrauded the firms out of close to $1 million in funds.
An intriguing move was made by a wallet believed to be owned by Michael Egorov, the creator of Curve Finance, with the wallet deposited an eye-popping 38 million Curve DAO (CRYPTO: CRV) tokens, valued at around $24 million, into Aave (CRYPTO: AAVE), a decentralized lending platform. On-chain analyst Lookonchain pointed out that this strategic move over the weekend was executed by Egorov to bolster his collateral, thus diminishing the likelihood of liquidation.
Curve Finance founder Michael Egorov has deposited $24 million worth of Curve DAO (CRV) tokens to decentralized lending platform Aave to mitigate the liquidation risk of a $65 million stablecoin loan.
Curve Finance founder Michael Egorov has deposited $24 million worth of Curve DAO (CRV) tokens to decentralized lending platform Aave to mitigate against liquidation risk on a $65 million stablecoin loan.
A wallet tagged as belonging to Curve Finance founder Michael Egorov deposited 38 million CRV tokens into Aave to mitigate liquidation risk.
The emergence of Decentralised Autonomous Organisations (DAOs) on the blockchain has been a game-changer, ushering in a new era of decentralized community administration.
As new DEXes emerge, Curve Finance's dominance wanes. The performance of its stablecoin, crvUSD, could be a game-changer in reclaiming its position in the DEX space.
Curve Finance founder is accused of running a six-month-long sophisticated fraud scam, according to ParaFi Digital Opportunities, Framework Ventures, and 1kx.
Michael Egorov, the CEO of decentralized finance (DeFi) firm Curve Finance, is being sued for fraud by venture capital firms ParaFi Capital, Framework Ventures and 1kx in the U.S.
ParaFi Digital Opportunities, Framework Ventures, and 1kx allege that Curve founder Michael Egorov carried out an elaborate fraudulent scheme that spanned six months, deceiving them in multiple ways.
A high-stakes legal dispute is underway in San Francisco court, involving three top crypto venture capital firms and the founder of popular decentralised exchange Curve Finance. Plaintiffs being ParaFi, Framework Ventures, and 1kx — claim that Curve founder Michael Egorov was involved in deceptive practices.
Despite increased activity on decentralized exchanges, popular DeFi tokens have failed to see significant price growth, with market caps declining to a fraction of their all-time highs.
The governance proposal for the crvUSD minting was passed early on Thursday.
Curve Finance CEO Michael Egorov and his wife Anna Egorova have recently made headlines by purchasing a luxurious Melbourne mansion for a whopping $41 million.
In an unprecedented move showcasing a hefty investment in Australia's property market, Curve Finance(CRV) CEO Michael Egorov and his wife Anna have made a grand purchase in the heart of Melbourne,
Decentralized liquidity protocol Curve is looking at reducing its reliance on third-party protocols.
