Aave Labs CEO Stani Kulechov has rejected recent Kraken acquisition talks. According to reports, crypto exchange Kraken plans to acquire a 15% stake in Aave Group, the organization behind DeFi lending protocol Aave.
In return, the exchange will reportedly invest $71 million, including a 35,000 ETH investment, as part of the deal.
Although Kulechov did not deny the meetings, he corrected some details that were made public and said:
First of all, there is no way we can sell AAVE at a 70% discount hahaha… Aave currently generates $134 million in annual revenue, which goes to the Aave DAO.
He added that Aave is built for the total addressable market (TAM) of finance, including tokenization, not just crypto. And the revenue will go to Aave DAO, not Aave Labs.
Additionally, Kulechov said there are plans for Aavenomis 3.0 to include “a new automatic and non-discretionary buyback mechanism.”
The update has been accelerated, although it is unclear whether the reported deal will be closed or not AAVEs Value on charts.
AAVE extends price increase
The altcoin rose 12% after Kulechov clarified acquisition talks. The upcoming tokenomics and buyback plan could possibly be a catalyst.
AAVE rises over 50% to $88 rescue rally In June. This is despite the fact that the token is still down 77% from its 2025 record high of $386 at the time of writing.
Still, its impressive recent recovery is no surprise.
Most altcoins hit yearly lows and sellers sold out. In fact, Santiment data showed that AAVE’s overall selling pressure, followed by supply on exchanges, began to decline sharply in late May.
This coincided with AAVE’s price reaching a local bottom near $50. With selling pressure easing, any minor catalysts have enabled select altcoins, including AAVE, to lead strong recoveries.
However, for AAVE, the downturn in 2026 was due to management conflicts and macro pressure. As several builders left the ecosystem, citing excessive control by Kulechov-led Aave Labs, AAVE’s price dropped.
It is not yet known how the market will react to Aavenomics 3.0 published by Kulechov and whether it will support the recovery of AAVE.
Final Summary
- Aave Labs CEO denies reports of Kraken acquisitions and says they will never sell at a discount.
- AAVE extended its recovery rally in June to +50% following the Aavenomics 3.0 plan.
