Avalanche Foundation Plans $1 Billion Fundraising Through Crypto Treasury Firms

According to Foresight News, the Avalanche Foundation is planning to raise approximately $1 billion by establishing two crypto treasury companies in the United States. The foundation is in advanced discussions with investors to create a new crypto treasury company and to transform an existing Nasdaq-listed company into a treasury firm. The funds raised will be used to purchase a significant amount of AVAX tokens from the Avalanche Foundation at a discounted rate. The first initiative, led by Hivemind Capital, aims to raise up to $500 million within a Nasdaq-listed company, with former White House Press Secretary Anthony Scaramucci serving as an advisor. The second project, initiated by Dragonfly Capital, involves a Special Purpose Acquisition Company (SPAC) with the same fundraising target of $500 million.