Crypto exchange Kraken is reportedly negotiating to acquire a 15% stake in DeFi lending protocol Aave, valuing the platform at roughly $385 million. The potential deal comes as Aave works to recover from significant disruption tied to April's KelpDAO exploit, which triggered a multibillion-dollar withdrawal of deposits. Notably, Aave itself was not compromised in the incident, but the broader fallout shook confidence and prompted a large outflow of user funds. A strategic investment from a major centralized exchange like Kraken could provide capital and credibility as the protocol rebuilds its deposit base. The talks signal growing interest from established crypto firms in taking equity positions in DeFi infrastructure. Terms of the deal remain under discussion, and neither company has finalized an agreement at this stage. The move underscores ongoing convergence between centralized exchanges and decentralized finance projects.
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