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Avalanche Foundation Eyes $1B Raise to Fund Two Crypto Treasury Companies: FT
The AVAX tokens would be bought from the foundation at a discounted price.
Sep 11, 2025, 8:46 a.m.
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What to know:
- The Avalanche Foundation aims to raise $1 billion to create two crypto treasury companies holding millions of AVAX tokens, the FT reported on Thursday.
- The AVAX tokens would be bought from the foundation at a discounted price.
- There has been a plethora of publicly-listed companies pivoting to a crypto treasury strategy this year, though enthusiasm for the approach may have dimmed slightly over the last month or so.
The Avalanche Foundation aims to raise $1 billion to create two crypto treasury companies holding millions of AVAX tokens, the Financial Times reported on Thursday.
The AVAX tokens would be bought from the foundation, the non-profit group that oversees the Avalanche blockchain, at a discounted price, according to the report, which cited people familiar with the matter.
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The foundation was in talks to raise up to $500 million through a private investment led by Hivemind Capital in an unidentified Nasdaq-listed company, with the aim of completing the deal by the end of the month, the FT said. Former White House press secretary Anthony Scaramucci was advising on the deal.
A second deal would create an AVAX treasury company via a special purpose acquisition company (SPAC).
There has been a plethora of publicly-listed companies pivoting to a crypto treasury strategy this year, seeking to emulate the approach of Michael Saylor's Strategy (MSTR) which now holds nearly 640,000 BTC ($73 billion).
However, the cooling of the crypto bull market in August saw a lot of these companies' shares take a hit, which may have dimmed enthusiasm for the model.
AVAX advanced nearly 8% in the last 24 hours, but has fallen around 2.1% since midnight UTC, while the broader crypto market as measured by the CoinDesk 20 Index is 0.65% higher.
The Avalanche Foundation did not respond to CoinDesk's request for further comment.
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From bank-led stablecoins to tokenized T-bills and AI-powered wallets, digital assets will move from pilot projects to financial plumbing this year.
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- Silicon Valley Bank's Anthony Vassallo says institutional adoption of crypto is accelerating, pushing bigger venture capital checks, more bank-led custody and lending, and deeper M&A consolidation.
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