The digital asset world is buzzing. Avalanche, a major player in the blockchain space, looks ready to dive into the corporate crypto treasury trend. Its foundation is currently in talks to bring in a substantial $1 billion. This money would set up two new companies. Their main goal? To buy and hold AVAX, the native token of the Avalanche network.
This move marks a big step for AVAX. Until now, it has largely sat out the rush by corporations to stack crypto assets. The new plan means these tokens would be purchased from the Avalanche Foundation itself. The deals would offer a discounted price to the new corporate entities.
The Financial Times reported on these plans. They spoke with people who know about the ongoing discussions. One deal, guided by Hivemind Capital, aims to raise up to $500 million. This money would come from private investors. It would go into a company already listed on the Nasdaq stock exchange. This first agreement might be finalized by the end of September. Anthony Scaramucci, a known crypto investor and former White House press secretary, is reportedly advising on this specific transaction.
A second deal is also on the table. Dragonfly Capital is sponsoring this one. It too seeks to raise up to $500 million. This would happen through a special purpose acquisition vehicle, often called a SPAC. However, this agreement might not wrap up until October. Those close to the talks say negotiations are well along. If these deals close, they would create the first known AVAX-focused investment funds in the United States market.
Corporations everywhere have been getting into crypto this year. Holding digital assets like Bitcoin or Ethereum as part of their company funds has become very popular. Many are trying to copy the playbook of Michael Saylor’s Strategy. That company famously holds nearly 640,000 Bitcoin, a stash once valued at $73 billion.
More than 185 public companies and 65 private ones around the globe now keep Bitcoin on their balance sheets. Together, they manage over 1 million Bitcoin. Other firms have chosen different cryptocurrencies. They hold assets like Ethereum, Solana, XRP, and even Dogecoin. This surge of corporate interest has helped boost the prices of these digital assets. It has also lifted the value of the companies that own them in recent weeks. Data from Kaiko shows that companies building crypto treasuries have raised over $16 billion this year.
AVAX powers the Avalanche Layer 1 network. There are 420 million AVAX tokens in circulation. It currently ranks as the 21st largest cryptocurrency by market capitalization, sitting at $12.2 billion. Its price was $28.9 at the time of this report, showing a 3.9% increase over 24 hours. Avalanche’s new strategy aims to bring AVAX into this growing corporate investment spotlight.
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