Kraken In Talks To Acquire 15% Stake In DeFi Lender Aave At $385 Million Valuation
Kraken is in talks to acquire a 15% stake in Aave Group, the entity behind the decentralized finance protocol Aave, at an implied valuation of $385 million. Under the proposed $71 million transaction, the crypto exchange would invest 35,000 ETH in exchange for 250,000 AAVE tokens and an equity stake, according to CoinDesk and people familiar with the matter. The deal marks the first under Kraken's Payward Asset Management initiative.
Aave founder Stani Kulechov clarified the proposed arrangement, stating the protocol would not sell allocated AAVE tokens at a 70% discount and noting that all protocol and product revenue accrues to the Aave DAO rather than development firm Aave Labs. Kulechov added that the protocol is generating $134 million in annualized revenue and is designing Aavenomics 3.0, a new framework that includes an automated buyback mechanism for the token.
From the sources (12 posts)
@aggrnewsKRAKEN IN TALKS TO BUY 15% STAKE IN DEFI LENDER AAVE AT $385 MILLION VALUATION: COINDESK
@coindeskSCOOP: Crypto exchange Kraken is in talks to buy a 15% stake in decentralized finance protocol Aave at a $385 million valuation, according to sources. @willcanny99 reports
@degeneratenewsBREAKING: @krakenfx IN TALKS TO BUY 15% STAKE IN DEFI LENDER @aave AT $385 MILLION VALUATION SOURCE: @CoinDesk -
@kalshi_cryptoJUST IN: Kraken in talks to buy 15% stake in DeFi lender Aave at $385M valuation
@fintechfrankKraken in talks to buy 15% stake in DeFi lender Aave at $385 million valuation
@stanikulechov@0xWenMoon Absolutely not 🤣 but buying $AAVE is on the table for everyone
@wublockchainKraken in Talks to Acquire 15% Stake in Aave Group in $71M Deal Kraken is in talks to acquire a 15% stake in Aave Group, the entity behind the DeFi protocol Aave, at an implied valuation of $385 million. Under the proposed transaction, Kra
@stanikulechovLots of discussions around Aave so I want to clarify a few things: • First off, there is NO WAY we’d sell AAVE at a 70% discount lol. • 100% of Aave Protocol and GHO revenue goes to the $AAVE token. This was established in the Aave Will W
@theblockcoTHE BLOCK: Aave founder Stani Kulechov disputes the framing of reported Kraken stake deal. He says there's "no way" Aave sells solana:AavE1kKKnesPw4MuRJmJ9jZs9QzEE8CPxQ3ViczUDfc1 at a 70% discount, but confirms participants have discussed
@wublockchainAave founder Stani Kulechov responded to reports that Kraken is seeking to acquire a 15% stake in Aave Group, saying Aave Labs would not sell AAVE at a 70% discount and that the reports inaccurately described the proposed transaction. He ad
@cointelegraph🚨 LATEST: Aave founder Stani Kulechov dismisses rumors of selling $AAVE at a 70% discount, clarifying that 100% of protocol revenue goes to the Aave DAO. He also teases Aavenomics 3.0 with an automated buyback mechanism.
@coinmarketcapLATEST: 💰 Kraken is in talks to acquire a 15% stake in DeFi lender Aave at a $385M valuation, per CoinDesk.