Track market-moving stories before they get noisy

Curve Finance founder Michael Egorov faced increased liquidation risk early on June 13 after part of his positions were liquidated. According to Tradingview data, the price of Curve DAO token, associated with the decentralized exchange, dropped by 25% in the last 24 hours, trading at $0.262 at the time of writing.

Notable Development for CurveAccording to the blockchain data analysis platform Lookonchain, Egorov currently has collateral of 111.87 million CRV tokens worth $33.87 million and a debt of $20.6 million across four platforms. Egorov used CRV tokens as collateral to borrow various stablecoins from DeFi platforms Inverse, UwU Lend, Fraxlend, and Curve’s LlamaLend. Early today, Egorov started to be liquidated on Inverse but later took measures to mitigate other risks.

Egorov’s underwater position currently has a health ratio of 1.07, where liquidation is typically triggered when the number reaches one. On-chain data shows that Egorov has started repaying the borrowed stablecoin DOLA. The loan taken from UwU Lend remains underwater.

What’s Happening on the Curve Front?Blockchain data analysis firm Arkham predicted early on June 12 that Egorov’s $140 million CRV positions were approaching liquidation and added that the Curve founder would pay $60 million annually to maintain his positions on LlamaLend.

The blockchain data analysis firm estimated that a roughly 10% drop in CRV’s value would trigger the liquidation of Egorov’s positions. In August 2023, Egorov sold 106 million CRV for $46 million in deals to mitigate potential liquidation risks associated with his outstanding debt on various DeFi platforms, including Aave.

This process clearly shows that many blockchain platforms could be in the same situation. Recently, the crisis within Curve deepened, especially after a hack attack, which could lead to many developments for the platform soon.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Rubio: US and Iran to continue technical consultations at the end of this month

Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)

5 hours ago

Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.

According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.

5 hours ago

Bitcoin falls below $60,000

According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.

5 hours ago

US Treasury Secretary: AI boom may boost productivity and help curb inflation.

US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.

5 hours ago

US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.

According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.

5 hours ago

During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.

According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.

5 hours ago

Around $240K in losses occurred when sDOLA price manipulation triggered the liquidation of 27 users on LlamaLend. Inverse Finance confirmed that its own protocol was not affected. A recent suspicious transaction caused around $2,40,000 in losses, initially reports suggested Inverse Finance users were affected, but the losses were due to an sDOLA price manipulation that triggered multiple liquidations.

The incident was first reported by BlockSec Phalcon in its X platform on March 2. As it said,  “As it is unclear whether additional users may still be affected, we are withholding further technical details at this time. Please take immediate action if you are exposed.”

Then, after a few hours, CertiK Alert also confirmed the incident that an attacker exploited a around $30 million flash loan to manipulate the sDOLA balance on Inverse Finance, leading to incorrect collateral values. Which triggered the liquidation of 27 users’ DOLA-backed positions, allowing the exploiter to profit by about $240,000 in a single transaction.

False. Inverse Finance was NOT affected. It's simply an incident in an external protocol that uses DOLA token. Please correct this.

— nour (@NourHaridy) March 2, 2026 After hours of reports from BlockSec Phalcon, in response, Founder and developer of Inverse Finance,  Nour Haridy said, “False. Inverse Finance was NOT affected. It’s simply an incident in an external protocol that uses the DOLA token. Please correct this.”

In addition, YAM, a DeFi community of sharing insights, posted that this was not an attack against Inverse Finance, but an issue with LlamaLend. The attacker liquidated the majority of users who possessed sDOLA and borrowed crvUSD, temporarily adjusting the sDOLA pricing from about 1.188 to 1.358 per DOLA. 

Also, mentioned, “We don’t understand yet how this actually liquidated users. It’s clearly unintentional behaviour, the value of your collateral going up should move you further away from liquidation, not closer.”

Later, BlockSec Phalcon said, “Correction: After further investigation and discussion with@InverseFinance, we confirm that its contract was not affected by the attack.” It was a user loss on LlamaLend due to a flash loan exploiting a faulty oracle configuration in the sDOLA–crvUSD pool. 

With that, this is not the first time Inverse Finance has encountered issues with DOLA and its money-market platform, Frontier. In April 2022, Frontier was known as Anchor, and a hacker used a price oracle to steal $15.6 million. They increased the value of $INV tokens, allowing them to borrow against collateral while withdrawing ETH, WBTC, YFI, and DOLA.

Writer with roots in journalism and international relations, actively exploring blockchain and crypto, with curiosity for the field and a passion for simplifying complex ideas.