Aave Labs CEO Stani Kuleshov has dismissed recent Kraken acquisition talks. According to reports, cryptocurrency exchange Kraken is planning to acquire a 15% stake in Aave Group, the entity behind the DeFi lending protocol Aave.
In return, the exchange will reportedly invest $71 million, including an investment of 35,000 ETH as part of the deal.
Although Kulichov did not deny the talks, he corrected some of the details that came to light, noting that,
First, there is no way to sell AAVE at a 70% discount. Aave currently generates $134 million in annual revenue, which goes to the Aave DAO.
He added that Aave is working on building a total addressable market (TAM) for the entirety of finance, including tokenization, not just cryptocurrencies. The revenue will go to Aave DAO, not Aave Labs.
Additionally, Kulichov said there are plans for Aavenomis 3.0, which will include a “new automated, non-discretionary buyback mechanism.”
While it is unclear whether or not the reported deal will close, the update has been reinforced AAVE Value on charts.
AAVE extends price rise
The altcoin rose 12% after Kuleshov clarified takeover talks. The upcoming token economy and buyback plan will likely be a catalyst.
AAVE bounce hits $88, hitting over 50% Recovery pool In June. This, even though the token is still down nearly 77% from its 2025 record level of $386 at press time.
However, its impressive recent recovery is no surprise.
Most altcoins hit yearly lows, and seller fatigue is creeping in. In fact, Santiment data showed that overall selling pressure for AAVE, as tracked by supply on exchanges, began to decline sharply in late May.
This coincided with a local bottom for the AAVE price near $50. With selling pressure declining, any minor catalyst has resulted in strong forward bounces in selected altcoins, including AAVE.
However, for AAVE, the withdrawal in 2026 was driven by governance struggles and macro pressures. With many builders leaving the ecosystem, citing excessive control by Kulechov-led Aave Labs, the price of AAVE has fallen.
It remains to be seen how the market will react to Kulechov’s Aavenomics 3.0 and whether it will fuel AAVE’s recovery.
Final summary
- Aave Labs CEO dismisses Kraken buyout reports, says it will never sell at a discount.
- AAVE extended June recovery rally to +50% following Aavenomics 3.0 plan.
