Arkham Announces Near Liquidation of $140 Million CRV

According to Odaily, Arkham announced in the early hours of today that $140 million worth of CRV is nearing liquidation. Michael Egorov, the founder of Curve, currently has $140 million CRV as collateral in five accounts across five protocols, borrowing $95.7 million in stablecoins, primarily crvUSD. Based on current interest rates, Egorov is required to pay $60 million annually to maintain his position on Llamalend. Egorov has a $50 million crvUSD loan on Llamalend, currently costing him approximately 120% APY. This is due to the scarcity of remaining crvUSD available on Llamalend for borrowing against CRV collateral. Egorov's three accounts already occupy over 90% of the crvUSD borrowed on this protocol. If the price of CRV falls by about 10%, these positions may begin to be liquidated.