Avalanche Foundation Pursues Establishment of AVAX Reserve Companies… Plans to Raise US$1 Billion
Suehyeon Lee
Summary
- The Avalanche (AVAX) Foundation is reportedly in talks with investors to establish two Avalanche reserve companies in the United States.
- The total US$1 billion fund is planned to be used to purchase millions of Avalanche (AVAX) tokens at discounted prices.
- The foundation said it is considering two options: establishing a new digital asset-holding company and converting an existing Nasdaq-listed company.
The Avalanche (AVAX) Foundation is reportedly in talks with investors to establish two Avalanche reserve companies in the United States.
On the 11th (local time), the Financial Times (FT) cited sources saying, "The Avalanche Foundation is in talks with investors to set up two Avalanche reserve companies in the United States and plans to raise a total of US$1 billion (about 1.3 trillion won)."
The funds are planned to be used to purchase millions of Avalanche (AVAX) tokens at discounted prices. According to the outlet, the foundation is considering establishing a new digital asset-holding company and converting an existing Nasdaq-listed company into a digital asset-holding company.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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