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Avalanche Foundation in Talks to Raise $1 Billion via Two U.S. Treasury Vehicles

Reports of two U.S. treasury vehicles lifted AVAX to seven-month highs despite the deals remaining unfinalized.

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

  • Financial Times reported the foundation is negotiating two digital-asset treasury companies that would collectively raise about $1 billion to acquire discounted AVAX directly from its reserves.
  • Hivemind Capital is leading a private investment of up to $500 million via a Nasdaq‑listed company with Anthony Scaramucci reported as an adviser, and Hivemind confirmed it is working on a deal.
  • A second vehicle backed by Dragonfly Capital targets roughly $500 million through a SPAC structure that reports say could close later, with October cited as the expected timeline.
  • AVAX jumped to roughly $29–$30 with surging volumes after the reports, breaking a months‑long range as traders highlighted a 213‑day consolidation ending.
  • Coverage also points to recent Toyota Blockchain Lab and WeBlock tie‑ups and rising RWA and stablecoin activity on Avalanche, while analysts caution that DAT models face fundraising, disclosure, and Nasdaq‑related scrutiny risks.