Avalanche Foundation Announces $1 Billion AVAX Treasury Purchase Plan

The Avalanche Foundation is planning a major move, aiming to raise $1 billion to purchase a significant amount of AVAX tokens at a discount through two established US-based digital asset treasury companies. Hivemind Capital, advised by Anthony Scaramucci, will contribute $500 million, while Dragonfly Capital takes the lead on another $500 million portion. 2023 is shaping up to be a pivotal year for crypto markets as this fundraising effort could significantly boost AVAX liquidity and attract institutional investments, potentially impacting the wider cryptocurrency market.