NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Curve Founder Faces Massive Blow As CRV Price Dives 40%, Multi-Million Dollar Liquidations

Ronaldo Marquez
Ronaldo Marquez
1 year ago
3 mins read
XRP price

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

A sudden and dramatic crash in the value of Curve Finance’s native token, CRV, has resulted in substantial losses for bullish investors and the platform’s founder, Michael Egorov. Blockchain analysis platform Arkham reported that Egorov faced liquidations totaling $140 million in CRV.

Curve Finance Founder Egorov Liquidated

In a social media post on X (formerly Twitter), Arkham confirmed that Egorov’s lending position worth nine figures was liquidated across five protocols due to the price of CRV dropping below his liquidation threshold. 

Related Reading

Solana

Solana On-Chain Indicators Suggests A Return Of Bullish Sentiment, Is It Time To Buy SOL?

1 year ago

Egorov’s accounts incurred over a million dollars of bad debt on Curve’s Llamalend, which he managed to clear by receiving $6 million USDT. Additionally, Egorov experienced a $5 million liquidation on UwU Lend while making repayments on Inverse to mitigate further losses.

On June 13, Curve contributor Saint Rat revealed that the protocol had incurred $11.5 million in bad debt, which could be resolved if the price of CRV rises to $0.33. Egorov expressed his commitment to working with the Curve Finance team to address the bad debt situation and protect users from its impact.

Proposal To Burn 10% Of CRV Tokens

In response to the crisis, Egorov proposed burning 10% of the total CRV supply to stabilize the token’s price. He also announced that active voters would receive a three-month boost on deposit rewards across all Curve platforms, aiming to incentivize participation and strengthen the ecosystem. Egorov also stated:

The Curve Finance team and I have been working to solve the liquidation risk issue which happened today. Many of you are aware that I had all my loans liquidated. Size of my positions was too large for markets to handle and caused 10M of bad debt. Only CRV market on lend.curve.fi (where the position was the biggest) was affected. I have already repaid 93%, and I intend to repay the rest very shortly. It will help users not to suffer from this situation.

Related Reading

Toncoin TON Price

Toncoin (TON) Set For 40% Breakout: Buy At This Price, Says Crypto Analyst

1 year ago

Interestingly, this recent episode is not the first time Egorov has faced significant liquidations. Last year, he borrowed $60 million worth of loans from Aave, which posed a risk of bad debt in the event of liquidation. 

To address this, Gauntlet, a risk management firm, recommended freezing Aave’s v2 CRV market to minimize protocol risks. In a subsequent private deal, Egorov sold 106 million CRV for $46 million to repay most of his debts on Aave and other lending platforms, ultimately settling his debt to Aave with an $11 million USDT deposit in September.

Curve
The daily chart shows CRV’s price crash. Source: CRVUSD on TradingView.com

Before the market crash, CRV was trading at $0.3582. However, it plummeted nearly 40%, hitting an all-time low of $0.2220. 

Since then, the token has recovered and is currently trading at $0.2880. This recovery has helped to mitigate the losses incurred within the 24-hour timeframe, reducing them to 22%.

Featured image from DALL-E, chart from TradingView.com 

Tweet123Share196ShareSend
Ronaldo Marquez
Ronaldo Marquez

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Read more

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

bitcoin

Bitcoin Rally Not Over Yet? Short-Term Holder MVRV Suggests Further Upside

As Bitcoin (BTC) consolidates just below the $120,000 mark, concerns are mounting over whether the top cryptocurrency’s bullish momentum is...

Ash Tiwari 16 hours ago
Ethereum Shorts Are Getting Crushed: Could ETH Be Eyeing a New All-Time High?

Ethereum Shorts Are Getting Crushed: Could ETH Be Eyeing a New All-Time High?

Ethereum’s recent price trajectory has caught the attention of traders and analysts, as the asset extends its bullish rally well...

Samuel Edyme 19 hours ago
Ethereum’s Network Is Heating Up While Price Stalls, Is a Breakout Coming?

Ethereum Road To $10,000: Replay Of May’s Playbook Predicts Another Breakout

After beating the resistance mounted at the $3,000 by bears for months now, the Ethereum price looks primed for a...

Scott Matherson 20 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum's Rally Isn't What It Seems — Here's What's Really Driving It

Ethereum’s Rally Isn’t What It Seems — Here’s What’s Really Driving It

Samuel Edyme 38 minutes ago
bitcoin

Bitcoin Sees Long-Term Holders Sell As Short-Term Buyers Step In – Sign Of Rally Exhaustion?

Ash Tiwari 2 hours ago
trader success

Πώς ένας trader μετέτρεψε $6.800 σε $1,5 εκατ. χάρη σε μια ριψοκίνδυνη στρατηγική

Ιωάννης Ριζόπουλος 10 hours ago

Premium Sponsors

Press Releases

  • 米下院がGenius法案を可決、暗号資産市場は4兆ドル間近に — 次なる仮想通貨1000倍の期待銘柄とは

    ...

    4 hours ago
  • Top 5 Cloud Mining Sites in 2025: Best Crypto Platforms for...

    7 hours ago
  • PAXMINING Leads 2025 Bitcoin Mining Surge: Innovative Cloud...

    9 hours ago
  • ミームコイン熱狂の中、最新仮想通貨プレセールが63万ドルを突破

    ...

    11 hours ago
  • XRPが3.4ドルの最高値を突破し、2日間で取引量が約4倍に急増する中で注目される次の仮想通貨おすすめ

    ...

    11 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.