Arkham: $140 million CRV held by Curve founder or near liquidation

Arkham posted on X that the $140 million CRV held by Curve founder Michael Egorov is close to liquidation. Curve founder Michael Egorov is currently borrowing $95.70 million of stablecoins (mainly crvUSD) on 5 accounts across 5 protocols against 140 million dollars CRV. Based on current interest rates, Egorov is required to pay $60 million per year to maintain his position in Llamalend. Egorov has 50 million dollars crvUSD borrowed on Llamalend, currently spending about 120% of its APY. This is because there is little left crvUSD to borrow on Llamalend against CRV as collateral, and Egorov's 3 accounts already account for more than 90% of the crvUSD borrowed on the agreement. If the price of the CRV falls by about 10%, these positions may start to be liquidated.