Avalanche plans to raise $1 billion to establish a treasury company, purchasing AVAX at a discount.

According to ChainCatcher news and a report by FT, the Avalanche Foundation is in discussions with investors to establish two “digital asset treasury companies” in the United States, aiming to raise a total of $1 billion, which 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 public 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 with a SPAC, also targeting $500 million.