Curve Founder Speaks Out Liquidation Results in 10 Million Bad Debt 93 Repaid
Stablecoin exchange agreement, Curve founder Michael Egorov (michwill) had his CRV lending position liquidated for $140 million.
(
The founder of Curve was only liquidated out of CRV, the emperor is not in a hurry
)
Michael Egorov finally spoke out:
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“The Curve Finance team and I have been working hard to address the liquidation risk issues that have arisen today. Many of you know that all of my loans have been liquidated. My positions were too large for the market to handle, resulting in $10 million in bad debt. The lend.curve.fi market was most affected. I have repaid 93% and plan to repay the rest soon. It will help users avoid such situations.”
Ethereum developer @sassal0x sarcastically commented: Just don’t buy a mansion.
CRV
Curve
DeFi
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