Founder of Popular Altcoin Announces End of FUD, Price Surges!
Michael Egorov, the founder of the well-known altcoin Curve DAO (CRV), recently made a significant statement regarding the liquidation risk associated with the cryptocurrency. Following this announcement, the price of CRV, which had plummeted by over 20% in the past 24 hours due to liquidation concerns, began to rebound.
In his updated statement, Egorov assured the community that he had successfully addressed the liquidation risk issue and had already repaid 93% of the outstanding debts. Taking to his X account, Egorov stated:
“The team at Curve Finance and I are actively working to resolve the liquidation risk that emerged today. I have personally liquidated all my loans, which had grown to such a size that it resulted in 10 million in bad debt, impacting the CRV market on Curve.fi. I have already settled 93% of these debts and intend to clear the remainder promptly to protect our users from any potential harm.”
Following Egorov’s announcement, the CRV token witnessed a surge in price, indicating renewed investor confidence in the altcoin.
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