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-li ...

Avalanche has recently broken out of a long 213-day consolidation phase. The breakout follows a Financial Times report, which claims that the Avalanche Foundation is in advanced discussions with investors to establish two US-based “digital asset treasury” companies. According to the report, the entities aim to cumulatively raise $1 billion to purchase millions of AVAX tokens at a discount. The first treasury, spearheaded by Hivemind Capital, is targeting $500 million through a Nasdaq-listed firm, with po ...