Avalanche Foundation Plans $1 Billion Crypto Treasury Push: New Companies to Boost Blockchain

The Avalanche Foundation is preparing for a major financial push by launching two new crypto investment companies as part of a planned $1 billion fundraising initiative. The news comes from the Financial Times, which reports that one such company will seek up to $500 million through a Nasdaq-listed venture, while another aims for $500 million via a special purpose acquisition vehicle backed by Dragonfly Capital. Both are expected to close in the coming weeks and will purchase millions of AVAX, the native token of the Avalanche blockchain, at a discounted price according to sources familiar with the deals.