Joseph Lubin mortgaged 412,430 ETH to borrow 259 million DAI, with a Loan-to-Value (LTV) ratio dropping below 1.2 temporarily.

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BlockBeats News, June 7th. According to on-chain analyst Ai Auntie (@ai_9684xtpa), it is highly likely that three addresses belonging to Ethereum co-founder Joseph Lubin collectively collateralize 412,430 ETH, worth $6.53 billion, and borrow 259 million DAI. The loan-to-value ratio dropped below 1.2 yesterday, putting the account at risk of liquidation.

However, the possibility of this address cluster being liquidated is extremely low. Ethereum co-founder Joseph Lubin acquired 540,000 ETH in 2015 through an ICO at a cost as low as $0.31, making him a "Cash Reservist." During yesterday's ETH price drop, he added 110,000 ETH as collateral, bringing the health factor back above 1.48 and significantly reducing the risk of liquidation.

Source: BlockBeats

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