Curve founder: 93% of CRV liquidated bad debts on Curve lending platform repaid
2024-06-13 14:22:58
"The Curve Finance team and I have been working hard today to resolve the liquidation risk," said Michael Egorov, Curve's founder. "Many people know that all of my loans have been liquidated. My holdings were too large for the market to bear, resulting in $10 million in bad debt. Only the CRV pool on the Curve lending platform (lend.curve.fi) was affected. I have already repaid 93 per cent and intend to repay the rest of the bad debt soon, which will help users avoid losses due to this situation."
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