Avalanche Foundation Eyes $1 Billion Crypto Treasury Push: FT
The Avalanche Foundation is in advanced talks to launch two crypto treasury companies in the US as part of a $1 billion fundraising push. That’s according to a Financial Times report that said one deal, led by Hivemind Capital with SkyBridge’s Anthony Scaramucci as an adviser, aims to raise up to $500 million through a Nasdaq-listed company. Another $500 million raise is being planned via a special purpose acquisition vehicle backed by Dragonfly Capital, the report said, citing two sources familiar with the matter. The story said the deals are expected to close in the coming weeks. Both of the companies will then purchase millions of AVAX, which is the native token of the Avalanche blockchain, at a discounted price, the report said. Analysts Warn Crypto Treasury Companies Are At Risk The AVAX treasury plan comes as analysts warn that digital asset treasury companies (DATs) are facing risks from falling crypto and share prices that are compressing premiums a...