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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
06/26/2026

Kraken–Aave Deal Reported, But Founder Rejects $385M Valuation

What happened: CoinDesk reports that Kraken’s parent, Payward, is in advanced talks to invest 35,000 ETH (about $71 million) for a 15% stake in Aave Group, valuing the DeFi lender at $385 million.

Kraken–Aave Deal Reported, But Founder Rejects $385M Valuation

What happened: CoinDesk reports that Kraken’s parent, Payward, is in advanced talks to invest 35,000 ETH (about $71 million) for a 15% stake in Aave Group, valuing the DeFi lender at $385 million. The backdrop includes Aave’s ongoing recovery from the April KelpDAO exploit, which triggered a multibillion-dollar exodus and left ~$200 million in bad debt. However, Aave founder Stani Kulechov publicly denied the reported terms, stating there is “NO WAY” Aave would sell at a 70% discount and clarifying the distinction between Aave Labs and the Aave DAO.

Why it matters: The reported deal, if accurate, would represent a major strategic investment in DeFi at a time of sector stress. However, the strong public denial from Aave’s leadership and lack of confirmation from either party highlight the challenges of price discovery and governance in decentralized protocols. The episode also illustrates the reputational risks and negotiation complexities facing DeFi projects post-exploit.

Source: CoinDesk