Stani Kulechov, founder of decentralized lending platform Aave, bought a five-story mansion for £22 million ($30 million) in London’s exclusive Notting Hill area, according to a Bloomberg report.
The businessman bought the luxury property in November for about £2 million 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 aims to become the backbone of the next generation of credit services, not only in cryptocurrency leverage, has more than $50 billion in assets deposited in its markets.
Kulechov has been something of an advocate for the United Kingdom and Ireland as potential crypto hubs. It recently welcomed the UK tax authority HMRC’s approach to DeFi lending protocols that locking up cryptocurrencies as collateral would not trigger a taxable event.
An Aave spokesperson did not immediately respond to a request for comment.
