Crypto Markets Unnerved by DeFi Exchange Curve’s Token (Correct)

A tumble in the native token of key decentralized cryptocurrency exchange Curve Finance sapped sentiment toward digital assets on concern that the episode could trigger cascading liquidations of positions throughout the embryonic sector.

Curve Finance is one of the largest liquidity providers in DeFi, especially for stablecoins. A hack that took place in the project over the weekend has led to sharp declines in both the total amount of funds deposited on Curve and price of CRV, the token used to facilitate transactions on the protocol. The as much as 30% drop in CRV has put more than $100 million ...