CRV exposure risk throws a curveball at the DeFi ecosystem: Finance Redefined By Cointelegraph

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CRV exposure risk throws a curveball at the DeFi ecosystem: Finance Redefined

Published Aug 04, 2023 04:25PM ET Updated Aug 05, 2023 06:20PM ET

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CRV exposure risk throws a curveball at the DeFi ecosystem: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.

The $47 million Curve Finance exploit on July 30 had a domino effect on the DeFi ecosystem, mainly due to the $100 million loan taken out by the Curve founder against the platform’s native Curve DAO (CRV) token. Several lending protocols have rushed in with new governance proposals to minimize CRV exposure risks as the token price fluctuates. On Aug. 3, the native stablecoin of the ecosystem crvUSD depegged due to market conditions.

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