Aave founder buys $5.15M in AAVE amid internal conflict

An address believed to belong to Stani Kulechov, the founder of crypto lending protocol Aave, has purchased 32,660 AAVE by swapping 1,699 ETH, worth $5.15 million, according to Onchain Lens. The transaction was made at an average price of $157.78. The wallet, which begins with 0x47cA, now holds 84,033 AAVE and is currently showing an unrealized loss of $2.29 million. The purchase comes as Aave is reportedly experiencing escalating internal conflicts over control of its governance and revenue-sharing mechanisms. According to CoinMarketCap, AAVE is trading at $149.92, down 8.11% over the past 24 hours.