Avalanche Foundation Launches $1 Billion Crypto Treasury Venture

The Avalanche Foundation is preparing to establish two new cryptocurrency treasury companies in the US, seeking a funding of $1 billion. This ambitious plan, as reported by the Financial Times, involves agreements with both an existing and a newly created company. The foundation aims to secure this funding through a combination of private investment and special purpose acquisition company (SPAC) funding. These investments will enable the purchase of millions of AVAX tokens at discounted prices, bolstering the balance sheets of the new treasury companies and supporting the Avalanche ecosystem.