Kraken Seeks 15% Stake in Aave with $385 Million Investment

Kraken, a major crypto exchange, is reportedly considering an investment in DeFi protocol Aave. According to sources, Kraken plans to acquire a 15% stake in Aave for $385 million by investing 35,000 ETH for 250,000 AAVE tokens and a 15% equity stake.

The potential deal aims to boost Payward Asset Management's involvement in DeFi and other investments. This move could have significant implications for the crypto market as Kraken is one of the largest exchanges globally.