Avalanche Targets $1 Billion Fundraising Goal For Two AVAX Treasuries

The Avalanche Foundation, a non-profit organization that supports the Avalanche (AVAX) blockchain ecosystem, is reportedly seeking to raise $1 billion through a major fundraising campaign to create two AVAX ￰0￱ initiative aligns with a broader trend in the cryptocurrency space, where various organizations and traditional finance firms are experimenting with crypto treasury models to strengthen their financial stability and operational ￰1￱ Foundation To Offer Discounted AVAX Tokens According to the Financial Times, the Avalanche Foundation is in advanced talks to create two crypto treasuries in the United ￰2￱ moves come at a time when the foundation is gaining traction among institutional investors, with firms like BlackRock and Visa already utilizing the Avalanche blockchain for their ￰3￱ foundation’s strategy involves launching one digital asset treasury company while converting an existing firm into a treasury ￰4￱ goal is to secure approximately $1 billion, with the expectation to finalize these deals within ￰5￱ funds raised are earmarked for the acquisition of millions of AVAX tokens , which will be offered at a discounted price directly from the Avalanche ￰6￱ approach is aimed to not only support the foundation’s growth but also to enhance the liquidity and market presence of AVAX amid an increasingly competitive treasury companies ￰7￱ Price Approaches $30 Per the report, the first fundraising deal aims to secure up to $500 million through a private investment led by Hivemind Capital, with expectations to finalize the agreement by the end of the month.

Notably, Anthony Scaramucci, a crypto investor and former White House press secretary, is advising on this ￰8￱ second funding endeavor involves a special purpose acquisition vehicle (SPAC) sponsored by Dragonfly Capital, which is also targeting a $500 million ￰9￱ deal may take longer to conclude, potentially stretching into ￰10￱ initiatives will focus on purchasing discounted AVAX tokens held by the Avalanche Foundation, which has a total supply of 720 million tokens, with approximately 420 million currently ￰11￱ broader cryptocurrency market has seen a surge in fundraising activities this ￰12￱ have raised over $16 billion to stockpile crypto assets, often inspired by the successful Bitcoin (BTC) treasury model of Strategy (formerly MicroStrategy).

Tokens associated with other blockchains, such as Ethereum (ETH) and Solana (SOL), have also seen significant price ￰13￱ tokens were selected by major publicly traded companies in the US for their respective crypto-focused ￰14￱ AVAX has not experienced the same upward momentum, CoinGecko data shows that it has recorded gains of up to 17% in the weekly time ￰15￱ of this writing, the AVAX price is approaching the key $30 mark, a level not seen since February of this ￰16￱ image from DALL-E, chart from ￰17￱