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The Avalanche Foundation is planning to raise $1 billion to support a cryptocurrency treasury company.
BlockBeats News, September 11th, according to the Financial Times report, the Avalanche Foundation is planning to raise about $1 billion through the establishment of two cryptocurrency treasury companies in the United States.
The foundation has held in-depth discussions with investors on establishing a new digital asset treasury company and transforming an existing Nasdaq-listed company into a treasury company. The raised funds will be used to purchase a large amount of AVAX tokens from the Avalanche Foundation at a discounted price.
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's SPAC, targeting another $500 million.
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