Avalanche plans to raise $1 billion to establish a treasury corporation for discounted purchase of AVAX

TechFlow, Sept 11 — According to FT, the Avalanche Foundation is in talks with investors about establishing two "digital asset treasury companies" in the United States, aiming to raise a total of $1 billion to purchase at a discount millions of AVAX tokens held by the foundation. The first initiative, led by Hivemind Capital, plans to raise up to $500 million through a Nasdaq-listed company, with crypto investor and former White House press secretary Anthony Scaramucci serving as advisor. The second project, launched by Dragonfly Capital, involves a SPAC targeting $500 million as well.