Avalanche Foundation Eyes $1B Raise for Two Crypto Treasury Companies: FT
The Avalanche Foundation aims to raise $1 billion to create two crypto treasury companies holding millions of AVAX tokens, the Financial Times reported on Thursday.
The AVAX tokens would be bought from the foundation, the non-profit group that oversees the Avalanche blockchain, at a discounted price, according to the report, which cited people familiar with the matter.
The foundation was in talks to raise up to $500 million through a private investment led by Hivemind Capital in an unidentified Nasdaq-listed company, with the aim of completing the deal by the end of the month, the FT said. Former White House press secretary Anthony Scaramucci was advising on the deal.
A second deal would create an AVAX treasury company via a special…
