Curve Finance founder Michael Egorov hit amid $22M CRV liquidation cascade
![](https://protos-media.s3.eu-west-2.amazonaws.com/wp-content/uploads/2024/06/13083459/Protos-Artwork-EgorovCRV-1200x675.jpg)
Over $20M worth of CRV-collateralised positions were liquidated as the price of the Curve Finance’s governance token dropped over 30%.
Over $20M worth of CRV-collateralised positions were liquidated as the price of the Curve Finance’s governance token dropped over 30%.
Egorov came close to liquidation on his highly leveraged CRV positions, which total over $150M, with CRV dipping below $0.38 on Saturday.
During the early hours of February 1, as soon as the deal expired, three of Micheal Egorov’s counterparties moved a total of 8.75 million CRV.
CRV tokens that Michael Egorov sold to avoid liquidation of his debt were briefly sent to Binance, briefly dropping their price.