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Curve DAO's CRV Token Drops 12% Due to Risky Loans by Founder on Aave, Faces Liquidation Threat

June 16 (Cointime) - Curve DAO's governance token, CRV, saw a 12% decline on June 15 following reports of its founder, Michael Egorov, taking risky loans on Aave. Egorov deposited 431 million CRV, which accounts for over 50% of the token's circulating supply, across various decentralized lending protocols and borrowed $101.5 million in stablecoins. According to DeFiLlama data,

CRV faces a liquidation threat of $107 million on Aave if its value drops below $0.37. Despite the risks, negative bets on CRV have increased, potentially fueling a quick upside move and short squeeze. It's worth noting that a DeFi loan collateralized by CRV on Aave is facing a liquidation risk of $264 million, and traders should conduct their own research before making any investment or trading decisions.

Curve DAO Token Curve DAO Token $0.50
+0.2%
AAVE DeFiLlama
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