Founder of Popular Altcoin Declares End of FUD, Triggers Price Movement!
The founder of the well-known altcoin Curve DAO (CRV), Michael Egorov, recently made a significant announcement regarding the liquidation risks associated with the project. In response to the news, the price of CRV experienced a sharp drop of over 20% in the past 24 hours, causing concern among investors.
However, in a reassuring update, Egorov stated that the liquidation risk issue has been successfully addressed, with 93% of the bad debts already repaid. Taking to his X account, Egorov shared his plans to resolve the remaining debts promptly, ensuring that users are not left vulnerable to the situation.
Egorov explained, “The Curve Finance team and I are actively working to mitigate the liquidation risk that arose recently. I have personally liquidated all my loans, which were causing strain on the markets and resulted in significant bad debts. This had a direct impact on the CRV market. I have already settled 93% of the debts and aim to clear the remainder swiftly to protect our users from any potential harm.”
Following this announcement, the CRV token saw a positive uptrend in its price, signaling investor confidence in the project’s future stability.
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