Kraken in talks to buy 15% stake in DeFi lender Aave at $385 million valuation
Key takeaways
- Crypto exchange Kraken, part of Payward Inc., is in talks to acquire a 15% stake in decentralized finance (DeFi) protocol Aave at a $385 million valuation, according to three people with knowledge of the matter.
- A potential deal would see Kraken investing 35,000 ether (ETH) in return for 250,000 AAVE tokens and a 15% common equity stake in Aave Group, according to a document seen by CoinDesk.
- Two sources with knowledge of the transaction said that Kraken is also looking to syndicate the deal which is worth around $71 million, the people said, who spoke on condition of anonymity as the matter is private.
Traduit par IA2 min read Make preferred on Share Share this article Copy link X icon X (Twitter)Linked In Facebook Email Make preferred on Payward and Kraken co-CEO Arjun Sethi. (Coin Desk)Summary Show Kraken is evaluating a deal to acquire a 15% stake in De Fi lending protocol Aave, valuing the company at $385 million, according to sources.The proposed investment comes months after Aave weathered the fallout from the Kelp DAO exploit, which left the protocol with significant bad debt and triggered billions of dollars in withdrawals despite its smart contracts remaining uncompromised.The potential transaction reflects Kraken's parent company Payward's push to diversify ahead of a potential IPO.
Crypto exchange Kraken, part of Payward Inc., is in talks to acquire a 15% stake in decentralized finance (DeFi) protocol Aave at a $385 million valuation, according to three people with knowledge of the matter.
A potential deal would see Kraken investing 35,000 ether (ETH) in return for 250,000 AAVE tokens and a 15% common equity stake in Aave Group, according to a document seen by CoinDesk.