Avalanche Foundation plans to raise $1 billion to set up two digital asset treasury companies

According to Wu, the Avalanche Foundation is negotiating with investors to set up two "digital asset treasury companies" in the United States, with a plan to raise a total of US$1 billion. The funds will be used to purchase millions of AVAX held by the Foundation for discounts. The first project, led by Hivemind Capital, plans to raise up to $500 million in a Nasdaq-listed company. Crypto investor and former White House press secretary Anthony Scaramucci serves as an adviser. The second project was launched by Dragonfly Capital, with a target of $500 million.