Stani Kulechov, the founder of decentralized lending platform Aave, has purchased a £22 million ($30 million) five-floor mansion in London’s upscale Notting Hill neighborhood, according to a report from Bloomberg. The acquisition highlights the continued appeal of prime London real estate to global tech and crypto entrepreneurs, even amid a more selective luxury housing market.
The property was bought in November for roughly £2 million below its guide price, Bloomberg reported, citing brokers involved in the transaction. The discount reflects a broader trend in high-end London real estate, where motivated sellers and cautious buyers have created room for negotiation—particularly on trophy homes with eight-figure price tags.
Kulechov, a Russian-born Finnish lawyer, founded Aave in 2017 under its original name, ETHLend. The platform has since grown into one of the largest decentralized finance ecosystems, with more than $50 billion in assets deposited across its markets, and aims to serve as core infrastructure for next-generation credit services beyond pure crypto leverage. Kulechov has also emerged as a vocal supporter of the U.K. and Ireland as future crypto hubs, recently welcoming guidance from the U.K. tax authority HM Revenue & Customs that clarified locking crypto as collateral in DeFi lending would not, by itself, trigger a taxable event.