DeFi platform, which is frequently on the agenda during the summer months Curve Finance (CRV) founder Michael Egorov paid off his debts. Crypto market follower Lookonchain shared a post that the inventor of the altcoin project got rid of all the problematic positions he experienced in Aave.
According to the tweet shared by Lookonchain, Egorov deposited 68 million CRV coins into the protocol called Silo. The crypto expert, who later borrowed 10.8 million crvUSD through Curve Finance, of which he was the inventor, exchanged this token for USDT. Today, the altcoin inventor has been relieved of all his debts on Aave.
Michael Egorov deposited 68M $CRV ($35.5M) to #Silo and borrowed 10.77M $crvUSD in the past 2 days.
Then swapped $crvUSD for $USDT and repaid all the debt on #Aave.
He currently has 253.67M $CRV($132.52M) in collateral and $42.7M in debt on 4 platforms.https://t.co/stkFvDrlnv pic.twitter.com/oBQ4yiT9Xs
— Lookonchain (@lookonchain) September 27, 2023
Lookonchain stated that the altcoin founder currently owns 253 million 670 thousand CRV tokens. Michael Egorov currently has 42.7 million debts despite his assets of 132.5 million dollars.
The Curve Finance inventor faced financial problems in the summer. Egorov, who faced the danger of liquidation in many debt positions, sold 106 million CRV coins of his own as a result of different trades. Those who purchased this token included Justin Sun, Wintermute, and various crypto celebrities.