Kraken Plans to Acquire 15% Stake in Aave at a $385 Million Valuation

Odaily reported that crypto exchange Kraken is in talks to acquire a 15% stake in decentralized finance protocol Aave at a valuation of $385 million.

According to a document, the potential deal would involve Kraken investing 35,000 ETH in exchange for 250,000 AAVE tokens and a 15% equity stake in Aave Group's common stock. Sources familiar with the matter revealed that Kraken also plans to form a consortium to co-invest in the transaction, which is valued at approximately $71 million. It is reported that this investment is the first in a series of transactions aimed at building Payward Asset Management. (CoinDesk)