Kraken’s Parent Buys AAVE Tokens After Valuation Battle
Kraken’s parent company, Payward, just snagged AAVE tokens, formalizing an investment relationship after months of intense negotiation. The move follows earlier talks that proposed a massive $385 million equity stake in Aave Group. This acquisition brings institutional weight into Aave's decentralized governance ecosystem.
, Payward announced on November 5 that its affiliated investment fund, Digital Asset Special Investments I, LP, acquired an undisclosed amount of AAVE via secondary market transactions.
This move shifts focus from earlier rumors reported by CoinDesk regarding a much larger equity deal that involved a proposed 15% stake in Aave Group at a $385 million valuation.
The previous discussions saw Aave founder Stani Kulechov publicly challenge the terms, stating the reported valuation substantially undervalued the protocol.
The latest confirmed acquisition secures AAVE tokens, which grant governance rights within the decentralized lending space, but it does not confirm that Payward purchased company shares.
Aave continues to operate as a market behemoth, boasting approximately $33 billion in net deposits and $11 billion in active loans, cementing its status as a leading on-chain platform.
Payward’s investment aligns with its growing footprint connecting traditional finance with the blockchain, as its xStocks platform recently surpassed $1 billion in assets.
TopicsPayward · Kraken · AAVE · Aave · Stani Kulechov · Digital Asset Special Investments I, LP · CoinDesk
Source: coinpaper.com
Written by Paparazzi with AI. Not financial advice.
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