Avalanche plans to raise $1 billion to establish a treasury company and purchase AVAX at a discount

ChainCatcher news, according to FT, the Avalanche Foundation is in talks with investors to establish two "digital asset treasury companies" in the United States, with a total fundraising goal of $1 billion. The funds will be used to purchase millions of AVAX held by the foundation at a discount.

The first project is led by Hivemind Capital, aiming to raise up to $500 million from publicly listed companies on Nasdaq, with crypto investor and former White House Press Secretary Anthony Scaramucci serving as an advisor; the second project is initiated by Dragonfly Capital's SPAC, also targeting $500 million.