The Avalanche Foundation is planning to raise $1 billion to establish two crypto treasury companies that will manage substantial amounts of AVAX tokens. The tokens are expected to be acquired from the foundation at a discount. This move comes amid a trend of publicly-listed companies shifting towards a crypto treasury strategy, although interest has waned slightly recently. The foundation is in discussions to raise up to $500 million through a private investment led by Hivemind Capital, targeting completion by the end of the month. Additionally, a separate deal aims to create an AVAX treasury company through a SPAC. The recent cooling of the crypto market may have tempered enthusiasm for these strategies, but AVAX saw an 8% increase in value over a 24-hour period. The Avalanche Foundation has yet to provide further comments on this initiative.

Source 🔗