Avalanche Foundation plans to raise $1 billion to support cryptocurrency treasury companies

According to BlockBeats, on September 11, the Financial Times reported that the Avalanche Foundation is planning to raise about $1 billion by setting up two cryptocurrency treasury companies in the United States. The foundation has held in-depth negotiations with investors on the establishment of a new digital asset treasury company and the transformation of an existing Nasdaq listed company into a treasury company. The funds raised will be used to purchase a large number of AVAX tokens from the Avalanche Foundation at a discounted price. The first project, led by Hivemind Capital, plans to raise up to $500 million in a Nasdaq-listed company, with crypto investor and former White House press secretary Anthony Scaramucci as an adviser; the second project is initiated by Dragonfly Capital, with a target of $500 million.