UwU Lend

Jerome Powell

DeFi

April

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<p><strong>Key Points:</strong></p>  
<ul class="wp-block-list">
 <li><em>Curve Founder Liquidation: Michael Egorov’s $882K CRV position was liquidated after a 12% drop in the CRV's price within 24 hours.</em></li>  
 <li><em>The latest liquidation adds to Egorov’s history of significant losses, fueled by CRV’s price volatility and related DeFi protocol vulnerabilities.</em></li> 
</ul>  
<h5 class="wp-block-heading">Curve Founder Liquidation: Michael Egorov has been liquidated again, this time for $882,000 in CRV, amid ongoing crypto market turbulence.</h5>  
<figure class="wp-block-image aligncenter size-large"><a href="https://coincu.com/wp-content/uploads/2024/12/On-Black-25.jpg" rel="noopener noreferrer nofollow"><img src="https://coincu.com/wp-content/uploads/2024/12/On-Black-25-1024x576.jpg" alt="Curve Founder Liquidation: CRV Price Drop Triggers Sell-Off" class="wp-image-297900"></a>
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<h2 class="wp-block-heading" id="curve-founder-liquidation-egorov-loses-882-000-in-crv">Curve Founder Liquidation: Egorov Loses $882,000 in CRV</h2>  
<p>On-chain data <a href="https://x.com/PeckShieldAlert/status/1869578495472615518" rel="noopener noreferrer nofollow">reveals</a> that Michael Egorov, the founder of DeFi platform Curve Finance, has been liquidated for a loan of 918.83K CRV worth $882,000 following a 12% drop in the price of CRV over the past 24 hours.</p>  
<p>This Curve Founder Liquidation event comes just two days after Michael Egorov spent $1.2 million to <a href="https://x.com/spotonchain/status/1868837898570940920" rel="noopener noreferrer nofollow">purchase more CRV at $1.11</a>. Unfortunately, the price of CRV has since dropped to around $0.91 at the time of writing, triggering the liquidation.</p>  
<p>Following the liquidation, Egorov <a href="https://x.com/newmichwill/status/1869641054670160249" rel="noopener noreferrer nofollow">stated</a> on X that the CRV liquidated was related to the uWu hack in June, and this liquidation was essentially a "measure to recover the debt that Sifu (uWu founder) had promised to repay."</p>  
<p class="has-background" style="background-color:#222222">Read more: <a href="https://coincu.com/297862-mara-bitcoin-investment-acquire-15574-btc/" rel="noopener noreferrer nofollow">MARA Bitcoin Investment: $1.53B Spent to Acquire 15,574 BTC</a></p>  
<h2 class="wp-block-heading" id="curve-founder-liquidation-a-recurring-event-for-egorov">Curve Founder Liquidation: A Recurring Event for Egorov</h2>  
<p>This is not the first time Egorov has faced significant liquidations. In April 2024, he faced a <a href="https://coincu.com/255081-curve-founder-faces-liquidation-371m-crv/" rel="noopener noreferrer nofollow">potential liquidation of 371 million CRV tokens</a>, equivalent to $156 million. Most recently, in June, the Curve Finance founder was <a href="https://coincu.com/263667-egorov-crv-liquidation-triggers-10-million/" rel="noopener noreferrer nofollow">liquidated for a total of $140 million</a> while attempting to borrow more to buy CRV and support the token's price.</p>  
<p>The cause of the bad debt and liquidation at that time was believed to stem from UwU Lend, a DeFi protocol that allows users to borrow, lend, and stake tokens. UwU Lend <a href="https://coincu.com/263619-uwu-lend-has-hacked-again-losses-reach-3-72-m/" rel="noopener noreferrer nofollow">suffered a security attack</a> resulting in a loss of nearly $27 million.</p>  
<p>At the time of writing, the CRV token is trading at around $0.92, reflecting a decrease of 11% in the last 24 hours. However, when considering the 1-month timeframe, Curve Finance's cryptocurrency has recorded a significant growth of up to 124%.</p>  
<figure class="wp-block-image aligncenter size-large"><a href="https://coincu.com/wp-content/uploads/2024/12/image-215-9.jpg" rel="noopener noreferrer nofollow"><img src="https://coincu.com/wp-content/uploads/2024/12/image-215-9-1024x557.jpg" alt="" class="wp-image-297899"></a>
 <figcaption class="wp-element-caption"><em>CRV token price movement over the past month was captured at 09:45 PM on 19/12/2024 on CoinGecko.</em>
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<p>The sharp decline in CRV is a common situation across the crypto market after <a href="https://coincu.com/297775-fed-chair-jerome-powell-fed-not-allowed-own-btc/" rel="noopener noreferrer nofollow">Fed Chairman Jerome Powell asserted that "Bitcoin cannot be owned"</a> and <a href="https://coincu.com/297759-bitcoin-price-drop-after-fed-rate-cuts/" rel="noopener noreferrer nofollow">projected a decrease</a> in the frequency of interest rate adjustments in 2025.</p>  
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    <td><em><strong>DISCLAIMER</strong>:&nbsp;The information on<a href="https://coincu.com/" rel="noopener noreferrer nofollow"> this website</a> is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.</em></td>
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</figure>  <a href="https://coincu.com/?p=297897" rel="noopener noreferrer nofollow">Read original article on coincu.com</a>

Curve Founder Liquidation: CRV Price Drop Triggers Sell-Off

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