Haciyev Reşit 
The Avalanche Foundation is in advanced discussions with investors to establish two crypto treasury companies in the United States, with a target of raising a total of $1 billion.
Deal Details
- First Agreement: Plans to increase a private investment in a Nasdaq-listed company by up to $500 million.
- Managed by Hivemind Capital.
- SkyBridge Capital founder Anthony Scaramucci is serving as an advisor.
- The deal is expected to close by the end of September.
- Second Agreement: Led by Dragonfly Capital, with the goal of raising an additional $500 million.
- The transaction is expected to conclude in October.
AVAX Purchase Plan
The funds raised are planned to be used by the two companies to purchase AVAX at a discounted price. This move would withdraw millions of AVAX from circulation, strengthening the treasury and providing long-term support for the ecosystem.
Following the news of the Avalanche Foundation’s plan to establish a billion-dollar treasury in the U.S., the price of AVAX surged by 10.17%, reaching $29.
Broader Context
This move aligns with the growing trend of corporate digital asset treasuries (DATs). Recently, many companies have been converting publicly listed firms into crypto treasury companies via “reverse mergers.”
For example, this week, Nasdaq-listed Asset Entities (ASST) shareholders approved a merger with Vivek Ramaswamy’s Strive Enterprises. Following the merger, ASST will transition into a Bitcoin-focused DAT.
The Avalanche network is also being utilized by major investment firms such as BlackRock, Apollo, and Wellington Asset Management to test the tokenization of funds.
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