Curve Founders 140 Million CRV Collateral Approaching Liquidation Again Arkham Only 10 Downside Potential Left

Stablecoin exchange agreement Curve founder Michael Egorov’s leveraged position is reported to have nearly reached the liquidation threshold with $140 million worth of CRV, according to Arkham analysis: If the price of CRV drops by around 10%, these positions may start to be liquidated.
(Background:
Curve launches lending market! Supports lending crvUSD, CRV, Founder: Want to liquidate me? Come on!
)
(Additional background:
Whale helps out, Curve founder re-collateralizes CRV! Pays off Aave’s $70 million debt
)
Table of Contents
If CRV drops 10%, the $140 million CRV collateralized by Curve founder may face liquidation
CRV plunges 6.7%
Michael Egorov triggered a liquidation crisis last year
Chain data analysis platform Arkham tweeted early this morning
Indicating
that the lending position created by Michael Egorov, founder of the stablecoin exchange protocol Curve, is valued at $140 million in CRV and is once again approaching the liquidation threshold.
Egorov currently borrowed around $95.7 million in stablecoins (mainly crvUSD) using $141 million in CRV as collateral in 5 accounts across 5 protocols.


Source: Arkham @ArkhamIntel Twitter
If CRV drops 10%, the $140 million CRV collateralized by Curve founder may face liquidation
Arkham explains that, based on the current interest rate, Egorov needs to pay $60 million annually to maintain his lending position in the Curve lending market, Llamalend.
Currently, Egorov has $50 million in crvUSD loans on Llamalend, as there is almost no remaining crvUSD available for collateralized borrowing with CRV, his loan interest rate is as high as 120%. (Egorov’s 3 accounts already account for over 90% of the crvUSD borrowed on the protocol)
In response, Arkham warns:
Regarding the price, CRV surged to $0.3751 after the CPI announcement last night, but then began to decline, dropping to a low of $0.35 earlier today, with a maximum decline of nearly 6.7%, currently trading at $0.3508, a drop of approximately 3.4% in the past 24 hours.


Source: Trading View
It is worth mentioning that Michael Egorov has often faced the risk of liquidation due to conducting large-scale lending operations using his own CRV tokens, which has led to strong criticism from the community and sometimes even caused CRV prices to be targeted by short sellers.
When Curve was severely affected by a hacker attack at the end of July last year, Egorov’s massive positions were jeopardized by the
liquidation crisis
, and the Curve founder continuously sought institutions and OTC trades to discount CRV in order to repay his loans on major DeFi platforms, successfully resolving the Curve crisis.
However, he seems undeterred by liquidation. When Curve launched its lending service in February this year, Curve founder Michael Egorov created his own lending positions and challenged by saying:


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