Kraken plans to acquire 15% stake in Aave at a $385 million valuation

Odaily Odaily reports that cryptocurrency exchange Kraken is in negotiations to acquire a 15% stake in decentralized finance protocol Aave at a $385 million valuation.

According to a document, the potential deal would involve Kraken investing 35,000 ETH in exchange for 250,000 AAVE tokens and a 15% common equity stake in Aave Group. 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)