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Over $20 million worth of CRV-collateralised positions were liquidated this morning, as the price of the Curve Finance’s governance token dropped by more than 30% in an hour. Curve founder Michael Egorov was hit hard, with 20 million CRV collateral liquidated on UwU Lend, a decentralized finance (DeFi) platform created by the infamous 0xSifu, a.k.a Michael Patryn. Egorov’s loans on Inverse Finance (worth $6.5 million) and Silo Finance (worth $14.3 million) were also liquidated. CRV liquidations coming in hot pic.twitter.com/ldalvYXQpF — parsec (@parsec_finance) June 13, 2024 Read more: Sifu’s UwU Lend reportedly hacked for $20M, Curve’s Egorov among affected A dashboard by Parsec Finance user @kez shows a total of $22 million worth of CRV liquidations which accompanied a dip in price from around $0.36 to a low of $0.23. CRV is currently worth $0.27, according to data from CoinMarketCap. In what is known as a ‘ liquidation cascade ,’ CRV collateral was sold off by...

On day 6 of Sam Bankman-Fried’s trial , Caroline Ellison revealed how the defendant forged several balance sheets to defraud lenders and bribed Chinese officials. The second week of FTX founder Sam Bankman-Fried’s continues, as former Alameda CEO Caroline Ellison testifies how SBF directed her to forge several balance sheets and mislead lenders like Genesis. Today’s session also revealed how the former FTX CEO bribed Chinese officials and tried to initiate a regulatory crackdown on Binance, the major competitor of FTX at that time.  Testimony of Caroline Ellison, former CEO of Alameda Research Assistant US Attorney continued his direct examination of Caroline Ellison today. Here are the key points of her testimony on day six: Alameda had open-ended loans, so the lenders recalled the loans as soon as the market declined in 2022. Genesis wanted back $400 million from their open-term loan. Ellison was stressed out, and had to get that fund from FTX customer funds. SBF told E...