Curve Finance's CRV token dropped 30% due to founder's loan liquidation risk, causing DeFi protocol pressure and market volatility.
Curve Finance's native token, CRV, experienced a 30% drop in value due to loans tied to founder Michael Egorov facing liquidation risk. Egorov has repaid loans on Inverse and LlamaLend using FRAX, DOLA, and CRV tokens, causing further pressure on DeFi protocols that use CRV as a trading pair and ballast. This liquidation event has raised concerns among market participants and led to increased volatility.
June 13, 2024
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