Arkham: Curve founder’s $140 million CRV may be close to liquidation

Arkham posted on X early this morning that Michael Egorov, the founder of Curve, is close to liquidating his 140 million US dollars worth of CRV. Currently, Michael Egorov has borrowed 95.7 million US dollars worth of stablecoins (mainly crvUSD) using 140 million US dollars worth of CRV as collateral across 5 accounts in 5 protocols. Based on the current interest rate, Egorov needs to pay 60 million US dollars annually to maintain his position in Llamalend. Egorov has borrowed 50 million US dollars worth of crvUSD on Llamalend, which currently costs him about 120% APY. This is because there is almost no remaining crvUSD available on Llamalend to borrow using CRV as collateral, and Egorov's 3 accounts already account for more than 90% of the borrowed crvUSD on the platform. If the price of CRV drops by about 10%, these positions may begin to be liquidated.