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06/26/2026

Kraken in Talks for $71M Aave Stake at $385M Valuation, Founder Disputes Terms

What happened: Kraken is reportedly negotiating to acquire a 15% equity stake in DeFi lender Aave at a $385 million valuation, investing 35,000 ETH (about $71 million) for 250,000 AAVE tokens.

Kraken in Talks for $71M Aave Stake at $385M Valuation, Founder Disputes Terms

What happened: Kraken is reportedly negotiating to acquire a 15% equity stake in DeFi lender Aave at a $385 million valuation, investing 35,000 ETH (about $71 million) for 250,000 AAVE tokens. The deal, first reported by CoinDesk, would be the inaugural investment of Kraken's new asset management arm. However, Aave founder Stani Kulechov publicly denied the reported terms, stating, "There is NO WAY we'd sell AAVE at a 70% discount," and emphasized that Aave generates $134 million in annualized revenue for its DAO.

Why it matters: The potential deal highlights growing institutional interest in DeFi protocols, but also underscores the valuation gap between public market prices and private dealmaking. The public pushback from Aave's founder signals that negotiations are preliminary and contested, reflecting the challenges of pricing and governance in decentralized projects. The reported valuation is roughly 30% of AAVE's fully diluted value, raising questions about fair value and strategic control in the sector.

Source: CoinDesk