Bitcoin
Bitcoin (BTC)
$109,433.00 2.30732
Bitcoin price
Ethereum
Ethereum (ETH)
$2,597.73 6.10594
Ethereum price
BNB
BNB (BNB)
$661.13 1.12344
BNB price
Solana
Solana (SOL)
$155.56 4.18353
Solana price
XRP
XRP (XRP)
$2.27 3.69887
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000121 6.04506
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000106 12.13361
Pepe price
Bonk
Bonk (BONK)
$0.0000174 21.5827
Bonk price
dogwifhat
dogwifhat (WIF)
$0.936147 16.03934
dogwifhat price
Popcat
Popcat (POPCAT)
$0.329042 16.85701
Popcat price
Bitcoin
Bitcoin (BTC)
$109,433.00 2.30732
Bitcoin price
Ethereum
Ethereum (ETH)
$2,597.73 6.10594
Ethereum price
BNB
BNB (BNB)
$661.13 1.12344
BNB price
Solana
Solana (SOL)
$155.56 4.18353
Solana price
XRP
XRP (XRP)
$2.27 3.69887
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000121 6.04506
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000106 12.13361
Pepe price
Bonk
Bonk (BONK)
$0.0000174 21.5827
Bonk price
dogwifhat
dogwifhat (WIF)
$0.936147 16.03934
dogwifhat price
Popcat
Popcat (POPCAT)
$0.329042 16.85701
Popcat price
Bitcoin
Bitcoin (BTC)
$109,433.00 2.30732
Bitcoin price
Ethereum
Ethereum (ETH)
$2,597.73 6.10594
Ethereum price
BNB
BNB (BNB)
$661.13 1.12344
BNB price
Solana
Solana (SOL)
$155.56 4.18353
Solana price
XRP
XRP (XRP)
$2.27 3.69887
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000121 6.04506
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000106 12.13361
Pepe price
Bonk
Bonk (BONK)
$0.0000174 21.5827
Bonk price
dogwifhat
dogwifhat (WIF)
$0.936147 16.03934
dogwifhat price
Popcat
Popcat (POPCAT)
$0.329042 16.85701
Popcat price
Bitcoin
Bitcoin (BTC)
$109,433.00 2.30732
Bitcoin price
Ethereum
Ethereum (ETH)
$2,597.73 6.10594
Ethereum price
BNB
BNB (BNB)
$661.13 1.12344
BNB price
Solana
Solana (SOL)
$155.56 4.18353
Solana price
XRP
XRP (XRP)
$2.27 3.69887
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000121 6.04506
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000106 12.13361
Pepe price
Bonk
Bonk (BONK)
$0.0000174 21.5827
Bonk price
dogwifhat
dogwifhat (WIF)
$0.936147 16.03934
dogwifhat price
Popcat
Popcat (POPCAT)
$0.329042 16.85701
Popcat price

Curve founder repays Aave loan, still owes $42m to defi lenders

Dalmas Ngetich
Edited by
News
Curve founder repays Aave loan, still owes $42m to defi lenders

Michael Egorov, the co-founder of Curve Finance, has completely settled his debt on Aave after depositing 68 million CRV, equivalent to approximately $35 million, to Silo.

Egorov withdrew 10.7 million of crvUSD, Curve’s decentralized stablecoin, from the non-custodial lending protocol following his CRV deposit, according to on-chain analytics provider, Lookonchain. After that, he swapped them for USDT before repaying his debt on Aave, a decentralized lending and borrowing protocol on Ethereum. 

Still, the Curve founder still owed approximately $42 million to four defi lenders, including Silo, Fraxlend, Inverse, and Cream Finance, collateralized by 253.7 million CRV valued at $132 million.

Egorov’s Aave repayment comes nearly two months after CRV prices posted steep drops, threatening to liquidate his $80 million on-chain loan positions.

The price crash came after Curve Finance suffered a re-entrancy attack in late July 2023. Hackers exploited a bug in a version of Vyper’s code which is used by Curve for the protocols’ stable swap exchange, stealing tens of millions worth of coins.

Maximal extractable value (MEV) bot operators raked in hundreds of Ether (ETH) during the ensuing on-chain tussle for block space and prioritized transactions.

Shortly after the attack, Egorov struck multiple over-the-counter (OTC) agreements with a pool of investors, including market maker Wintermute and Tron co-founder, Justin Sun, as he scrambled to raise funds.

The co-founder eventually secured $46 million and transferred 106 million CRV to select buyers, effectively quelling what would later be known as the Curve Wars.