Avalanche Foundation To Set Two U.S. “Digital Asset Treasury” Companies

Avalanche Foundation is in talks to set up two Digital Asset Treasury firms in the U.S. The move is aimed at raising $1 billion to buy millions of AVAX at a discount. With former White House press secretary and cryptocurrency investor Anthony Scaramucci serving as an advisor, the first startup, headed by Hivemind Capital, hopes to raise up to $500 million through a Nasdaq-listed corporation. The second is a $500 million SPAC that Dragonfly Capital started.