Avalanche to raise $1 billion to establish treasury firm, acquire AVAX at a discount
according to FT, the Avalanche Foundation is in talks with investors to establish two "digital asset treasury companies" in the United States, planning to raise a total of $1 billion, with the funds being used to purchase at a discount millions of AVAX tokens held by the foundation.
The first project is led by Hivemind Capital, aiming to raise up to $500 million in a Nasdaq-listed company, with cryptocurrency investor and former White House press secretary Anthony Scaramucci serving as an advisor; the second project is initiated by Dragonfly Capital with a SPAC, targeting another $500 million.
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