Avalanche Foundation Plans to Raise $1 Billion for AVAX Purchases, According to FT

According to a report by the Financial Times, the Avalanche Foundation, which operates the Avalanche blockchain, is planning to establish two digital asset holding companies in the United States. It aims to raise approximately $1 billion to purchase AVAX tokens. The fundraising is expected to be conducted through two schemes, each potentially raising up to $500 million, one via a NASDAQ-listed company and the other through a Special Purpose Acquisition Company (SPAC). The funds raised will be used to purchase AVAX tokens held by the Avalanche Foundation at a discounted price. Avalanche is known for its high processing speed and flexible network design, representing the next generation of...