Traders Pile Into CRV Shorts Amid Concerns Over Curve Founder’s Collateralized Borrowing | Currency News | Financial and Business News

• CRV continues to lose ground, threatening liquidation of Curve founder’s massive crypto borrowings.
• Potential liquidation would add to downside pressures on CRV, injecting volatility into the broader market.
• Traders are piling into shorts through perpetual futures tied to CRV.

Decentralized exchange Curve’s CRV token continues to lose ground as the looming threat of potential large liquidation of the founder’s borrowed position has traders piling into short positions.

Early Tuesday, the cryptocurrency fell below 50 cents, reaching the lowest since Nov. 22, according to CoinDesk data. Prices are down roughly 30% since Curve fell victim to a reentrancy attack late Sunday.