Kraken in Talks to Buy 15% Stake in Aave at $385 Million Valuation

Kraken is negotiating to buy a 15% stake in Aave for roughly $71 million, including 35,000 ETH and 250,000 AAVE tokens. The deal values the Aave company at $385 million, while the AAVE token trades at a $1.24 billion market cap.

• Kraken would invest 35,000 ETH ($55M) plus $20M in AAVE tokens for a 15% equity stake in Aave Group.
• The deal values the Aave company at $385 million, while AAVE's token market cap is $1.24 billion.
• The move comes as Aave recovers from April's KelpDAO exploit that triggered billions in withdrawals.
• Kraken parent Payward is diversifying ahead of a potential IPO.
• Standard Chartered also issued a bullish note on AAVE this week, targeting $3,500 by 2030.

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