According to a report by the Financial Times, the Avalanche Foundation is in “advanced discussions” to create two cryptocurrency treasury companies in the U.S. The foundation reportedly aims to raise a total of $1 billion through these ventures.
One of the deals, led by Hivemind Capital and advised by Anthony Scaramucci, involves a private investment of up to $500 million in a Nasdaq-traded company. This deal is expected to close by the end of September. The second deal, with an anticipated completion in October, involves a special purpose acquisition vehicle sponsored by Dragonfly Capital, also seeking to raise $500 million.
The proceeds from these deals are expected to be used to acquire millions of Avalanche’s native token, AVAX, which the foundation will offer to the new treasury companies at a discounted price. This move comes amid a growing trend of companies establishing digital asset treasuries. For example, the article mentions that Asset Entities (ASST), a Nasdaq-listed company, recently approved a merger that would transform it into a Bitcoin-focused digital asset treasury.
This initiative also aligns with Avalanche’s growing presence in the traditional financial sector, as major firms like BlackRock, Apollo, and Wellington Asset Management are already using the blockchain to test the tokenization of funds.
September 2025, Cryptoniteuae
