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5d ago

Avalanche Foundation in Advanced Talks on $1 Billion AVAX Treasury Vehicles

Analysts say any lasting supply effect hinges on the terms of two U.S. vehicles that lifted AVAX to multi‑month highs.

AVAX clears key hurdle after 8 rejections: Can AVAX reach $32?
Avalanche Foundation plans $1B raise for US digital asset treasury firms to buy AVAX
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Avalanche Foundation eyes $1B raise – Will AVAX hold $30?

Overview

  • People familiar told the Financial Times that two U.S. digital‑asset treasury companies are being set up to raise roughly $1 billion to buy millions of AVAX directly from the foundation at a discount.
  • Hivemind Capital is leading an up to $500 million raise via a Nasdaq‑listed company, with Anthony Scaramucci reported as an adviser; Hivemind confirmed it is working on a deal.
  • A second vehicle backed by Dragonfly Capital is planned as a $500 million SPAC and is expected to close later, with reporting pointing to October timelines.
  • The Avalanche Foundation declined to comment in multiple reports, and formal transaction documents and final closing dates have not been released.
  • AVAX jumped roughly 7–10% to around $29–$30 on the coverage, breaking a months‑long consolidation, while analysts flagged fundraising, shareholder dynamics, exchange scrutiny and deal lockups as key execution risks.