What to know : Kulechov snapped up the five-floor mansion for about 2 million pounds ($3 million) under the guide price, according to Bloomberg. Aave has over $50 billion in assets deposited across its markets.
Stani Kulechov, the founder of decentralized lending platform Aave, bought a 22 million-pound ($30 million), five-floor mansion in London’s upscale Notting Hill area, according to a report from Bloomberg.
The entrepreneur bought the luxury property in November for about 2 million pounds less than the guide price, Bloomberg reported citing brokers involved in the sale.
Kulechov, a Russian-born Finnish lawyer, founded Aave in 2017 under the name ETHLend. The platform, which aspires to become the backbone of the next generation of credit services, not just leverage for crypto, has over $50 billion in assets deposited across its markets.
Kulechov has been something of a champion of the U.K. and Ireland as possible crypto hubs. He recently welcomed U.K. tax authority HMRC’s approach to DeFi lending protocols, that locking crypto up as collateral would not generate a taxable event .
A spokesperson for Aave did not immediately respond to a request for comment.
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