Curve mulls dropping TUSD as crvUSD backing after SEC charges

The regulator alleged TUSD was 99% backed by a risky offshore fund, raising concerns about using TUSD to back Curve's stablecoin.

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Curve Finance reduces CRV emissions, boosting DAO sustainability

Curve Finances CRV token emissions reduced to 137 million annually, while Curve DAOs earnings surpassed emissions for the first time.

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CRV Dumps 50% In 1 Year: Founders Forced Liquidations A Pain For Holders

CRV, the native token of Curve, a stablecoin decentralized exchange (DEX), is under immense selling pressure. After the hack of July 2023, CRV has never been the same again. However, the painful liquidations of Michael Erogov’s loans have worsened the situation for holders. Curve Founder Forced To Sell $677,000 Of CRV, Token Falling After the forced liquidation in mid-June, which pushed prices below $0.30, data showed that the founder was also forced to sell CRV in the market to repay part of his loan. Yesterday, on July 25, Lookonchain data showed that Erogov was liquidated for $677,000 worth of CRV. Currently, CRV continues to print, discouraging lower lows. Even though the dump has not been as rapid as in June, the token is weak and could plunge below crucial support levels. For now, this level is at the double bottom at $0.21. On the upper end, resistance lies at $0.30. Interestingly, this resistance level served as support in June when prices slammed through the floor, accelerated by Erogov’s loans being liquidated. Then, due to the amount in the picture, there was fear across the crypto board that the founder’s loans would further destabilize the protocol, negatively impacting CRV holders. On-chain data shows that Erogov had borrowed roughly $100 million in stablecoins using $140 million in CRV as collateral. Some claim the founder bought prime real estate with this loan. Related Reading: Solana Set For 900% Rally With Breakout From This Pattern Analyst However, what’s known is that the series of forced liquidations and the scramble by the founder to offload CRV, which allowed him to be liquidated after the hack, forced prices even lower. Hopes On Spot Ethereum ETFs And Community Initiatives Since the hack on July 30, CRV has cratered by over 50%. Holders are facing it rough now that crypto prices are also sliding, retracing from their March 2024 peaks. Selling pressure has since eased after most of the CRV collateral posted by Erogov was reclaimed by lending protocolsincluding Frax and Aave. However, the token is still struggling for momentum. This weakness is a concern, especially considering the positive developments this week. As an Ethereum-based DEX, the approval and trading of spot Ethereum ETFs would benefit the protocol in the long run. Beyond the derivative product opening up institutions to Ethereum, Curve is also growing in strength. Recently, the community okayed a proposal to further boost CRV liquidity by bridging the gap between Solana and Ethereum via USDT. Related Reading: Wall Street Expert Sees 20x Potential In Ripple Via XRP And IPO Through this initiative floated by Picasso Network, a pool of USDT on Solana and USDT on Ethereum was launched. The goal is to encourage cross-chain activity and provide even more incentives for liquidity providers. Feature image from Canva, chart from TradingView

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Curve Finance unlocks new potential with crvUSD fee switch

Curve Finance has implemented a fee switch for its crvUSD stablecoin to enhance adoption and ecosystem engagement, according to a statement released on June 28. Launched in 2023 by the DeFi protocol, crvUSD has faced adoption challenges. However, Curve noted that crvUSD has become an outstanding fee generator, outperforming all other Curve DEX pools by […]

The post Curve Finance unlocks new potential with crvUSD fee switch appeared first on CryptoSlate.

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Curve Finance adopts crvUSD for fee distribution

Curve Finance shifts from 3crv to crvUSD for fee distribution, enhancing the stablecoins utility and ecosystem integration.

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Curve (CRV) Bounces 40% From All-Time Low As Whales Go On Shopping Spree

Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, [...]

The post Curve (CRV) Bounces 40% From All-Time Low As Whales Go On Shopping Spree appeared first on Crypto Breaking News.

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Is The CRV Painful Dip Over? This Event In August Could Spark A Rally

CRV, the native token of the stablecoin decentralized exchange Curve Finance, has been dumping in over the last year or so. After last weeks plunge, the token fell by as much as 75% from March 2024 highs, a huge concern for token holders. CRV Recovers, Adds 45% After Plunging However, according to one analyst who [...]

The post Is The CRV Painful Dip Over? This Event In August Could Spark A Rally appeared first on Crypto Breaking News.

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Curve founder hit with $27M liquidation as CRV drops to historic low

Michael Egorov, founder of Curve Finance, faced liquidation earlier today after the CRV token plummeted to an all-time low of $0.219. $27 million liquidated On-chain analyst EmberCN reported that Egorov’s lending positions were largely liquidated, totaling around 100 million CRV, valued at $27 million. Despite this, he still holds 39.35 million CRV, securing $5.4 million […]

The post Curve founder hit with $27M liquidation as CRV drops to historic low appeared first on CryptoSlate.

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Curve Founder Faces Massive Blow As CRV Price Dives 40%, Multi-Million Dollar Liquidations

A sudden and dramatic crash in the value of Curve Finance’s native token, CRV, has resulted in substantial losses for bullish investors and the platform’s founder, Michael Egorov. Blockchain analysis platform Arkham reported that Egorov faced liquidations totaling $140 million in CRV. Curve Finance Founder Egorov Liquidated In a social media post on X (formerly Twitter), Arkham confirmed that Egorov’s lending position worth nine figures was liquidated across five protocols due to the price of CRV dropping below his liquidation threshold.  Related Reading: Solana On-Chain Indicators Suggests A Return Of Bullish Sentiment, Is It Time To Buy SOL? Egorov’s accounts incurred over a million dollars of bad debt on Curve’s Llamalend, which he managed to clear by receiving $6 million USDT. Additionally, Egorov experienced a $5 million liquidation on UwU Lend while making repayments on Inverse to mitigate further losses. On June 13, Curve contributor Saint Rat revealed that the protocol had incurred $11.5 million in bad debt, which could be resolved if the price of CRV rises to $0.33. Egorov expressed his commitment to working with the Curve Finance team to address the bad debt situation and protect users from its impact. Proposal To Burn 10% Of CRV Tokens In response to the crisis, Egorov proposed burning 10% of the total CRV supply to stabilize the token’s price. He also announced that active voters would receive a three-month boost on deposit rewards across all Curve platforms, aiming to incentivize participation and strengthen the ecosystem. Egorov also stated: The Curve Finance team and I have been working to solve the liquidation risk issue which happened today. Many of you are aware that I had all my loans liquidated. Size of my positions was too large for markets to handle and caused 10M of bad debt. Only CRV market on lend.curve.fi (where the position was the biggest) was affected. I have already repaid 93%, and I intend to repay the rest very shortly. It will help users not to suffer from this situation. Related Reading: Toncoin (TON) Set For 40% Breakout: Buy At This Price, Says Crypto Analyst Interestingly, this recent episode is not the first time Egorov has faced significant liquidations. Last year, he borrowed $60 million worth of loans from Aave, which posed a risk of bad debt in the event of liquidation.  To address this, Gauntlet, a risk management firm, recommended freezing Aave’s v2 CRV market to minimize protocol risks. In a subsequent private deal, Egorov sold 106 million CRV for $46 million to repay most of his debts on Aave and other lending platforms, ultimately settling his debt to Aave with an $11 million USDT deposit in September. Before the market crash, CRV was trading at $0.3582. However, it plummeted nearly 40%, hitting an all-time low of $0.2220.  Since then, the token has recovered and is currently trading at $0.2880. This recovery has helped to mitigate the losses incurred within the 24-hour timeframe, reducing them to 22%. Featured image from DALL-E, chart from TradingView.com

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Is It A Good Idea To Buy Curve Now? Here’s What This Founder Thinks

In the wake of a massive exploit, the price of the Curve (CRV) token has declined drastically, recording double-digit losses in the last day. This has led to what some would call an opportunity to buy cheap coins and Matrixport and Bitdeer founder Jihan Wu is one of the believers. A Good Time To Buy [...]

The post Is It A Good Idea To Buy Curve Now? Here’s What This Founder Thinks appeared first on Crypto Breaking News.

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Curve DAO Token Price Prediction for Today, March 4 CRV Technical Analysis

The Curve DAO Token price prediction reveals that CRV may continue to follow the bullish movement if the bulls increase the pressure. Curve DAO Token [...]

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Curve Price Prediction for Today, April 23: CRV/USD Resumes Uptrend

The Curve price prediction shows that CRV is likely to cross above the 9-day and 21-day moving averages to continue the upward trend. Curve Prediction [...]

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Curve Dao Token Price Prediction for Today, February 14: CRV/USD Faces the Resistance Level of $1.10

The Curve Dao Token price prediction shows that CRV is likely to break above the channel as the coin is ready for a spike above [...]

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Curve Price Prediction for Today, January 9: CRV/USD Spikes Above $0.65 Level

The Curve price prediction sees a 14.32% price increase over the past 24 hours of trading as the cryptocurrency touches a $0.69 daily high. Curve [...]

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Curve Price Prediction for Today, December 13: CRV/USD May Hit $1.00 Resistance

The Curve price prediction reveals that if the Curve (CRV) price creates more additional uptrends, it can break above the $0.70 level. Curve Prediction Statistics [...]

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Curve Finance (CRV) Releases New Details About Its Upcoming Decentralized Stablecoin

crvUSD will use a new model called a lending-liquidating AMM algorithm (LLAMMA) to help manage potential collateralization risks.

Continue reading Curve Finance (CRV) Releases New Details About Its Upcoming Decentralized Stablecoin at DailyCoin.com.

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Curve Price Prediction for Today, October 17: CRV/USD Could Stay Above $0.90 Resistance

The Curve price prediction could set a bullish run if the market can keep the coin above the resistance level of $0.89. Curve Prediction Statistics [...]

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CRV Climbs by 7.39%; Tamadoge Is Obeying the Bulls

If the Curve (CRV) price creates more additional uptrends, it will be technically and fundamentally ready to break above the $1.3 level. CRV Prediction Statistics [...]

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Curve Finance: Issue Found And Reverted, CRV Sees 10% Losses

Via their official Twitter handle, the Ethereum-based decentralized finance (DeFi) protocol Curve Finance has confirmed a vulnerability in their nameserver or frontend curve.fi which was successfully reverted. Earlier, the team behind the project advised caution to its users and claimed an investigation has been launched to look into any potential vulnerabilities exploit. Related Reading: TA- My Neighbor Alice Could Be Set For A Major Bounce – Eyes $5 The team behind the project said: The issue has been found and reverted. If you have approved any contracts on Curve in the past few hours, please revoke immediately. Please use curve.exchange for now until the propagation for curve.fi reverts to normal The team behind the project shared a potential theory about what could be affecting their frontend. A bad actor might have “cloned” their frontend, making it look like it is the same as the Curve Finance product, to affect people accessing it. The team behind the project shared the following theory from Lefteris Karapetsas, founder of Rotkia App, about the attack affecting their Domain Name System (DNS): It’s DNS spoofing. Cloned the site, made the DNS point to their ip where the cloned site is deployed and added approval requests to a malicious contract. Therefore, anyone attempting to access Curve Finance’s curve.fi frontend should refrain from it until there are more details behind the potential attack. In a separate tweet, the team behind the project said that curve.exchange frontend seems to be unaffected. Any Curve Finance user should revoke transaction approval for the following ETH smart contract addresses: 0x9Eb5F8e83359Bb5013f3D8eee60bDCe5654e8881 and watch out for transactions from address 0x50f9202e0f1c1577822BD67193960B213CD2f331 which the attacker could be using. Curve Finance Tokens Sees Correction Following Attack Curve Finance is, at least, the fourth project to be impacted by this DNS hijacking attack, according to Karapetsas. Other DeFi projects victims of these attacks include Ribbon Finance, DeFi Saver, and Convex Finance. Alex Smirnov, a co-founder of deBridge, said the following about this recent attack: DNS is always a weak link. Here is how we solve this in deBridge and I think every DeFi project should have this.We have an automated monitoring system that checks the hash of the website and all its files. In case hash is changed, critical monitoring is immediately triggered. Related Reading: Ethereum Investors Close 300k Long Positions on Bitfinex, Rally To Stop Soon? Curve Finance claims that the issue could have originated from iwantmyname a DNS manager, but they are yet to offer more details about the incident. As the attack unveiled, the CRV token recorded a 10% correction in the past 24 hours.

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CoinFLEX Halted Crypto Withdrawals. Now It Wants to Sell Its Bad Debt

CoinFLEX plans to sell $47 million worth of high-yielding tokens to recoup missing funds and resume withdrawals after a trusted client failed to meet a margin call last Thursday. CoinFLEX...

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