The Avalanche Foundation plans to launch two US-based entities to build AVAX treasuries

Avalanche (AVAX) is one of the growing altcoins for the past day, after the Avalanche Foundation announced plans to establish a $1B treasury ￰0￱ Foundation will seek a listing through a merger with an existing company, and establish one additional ￰1￱ Avalanche Foundation announced plans to launch two treasury companies in the USA, establishing a new entity and merging with a listed ￰2￱ Foundation aims to build a $1B AVAX treasury, boosting the value of its ￰3￱ first deal will raise $500M to invest in a NASDAQ-listed ￰4￱ funds will be raised in a private placement led by Hivemind ￰5￱ second deal will build a special-purpose acquisition company, in a raise led by Dragonfly Capital, aiming to raise another $500M.

This deal may not be concluded until ￰6￱ the news, AVAX rallied to $29.12, reaching a three-month ￰7￱ has been recovering gradually, as the network rebuilt its traffic through DeFi and selected ￰8￱ rallied to a three-month high on news of an upcoming $1B treasury. |