The Avalanche Foundation aims to raise $ 1 billion to create two cryptographic treasury companies that have millions of Avax tokens, Financial Times said Thursday.
The Avax tokens would buy from the Foundation, the non -profit group that supervises the Avalanche block chain, at a discount price, according to the report, which cited people familiar with the matter.
The Foundation was in conversations to raise up to $ 500 million through a private investment led by HIVERMIND CAPITAL in an unidentified company that quotes in Nasdaq, with the aim of completing the agreement at the end of the month, said the FT. The former White House Secretary, Anthony Scaramucci, was advising on the agreement.
A second agreement would create a AVAX treasury company through a special purpose acquisition company (SPAC).
This year there have been a lot of companies that are quoted in the stock market to a cryptographic treasury strategy, seeking to emulate the approach of Michael Saylor’s strategy (Mstr) which now has almost 640,000 BTC ($ 73 billion).
However, the cooling of the flu market in August in August saw that many of the shares of these companies received success, which may have mitigated the enthusiasm for the model.
Avax advanced almost 8% in the last 24 hours, but has fallen around 2.1% since midnight of UTC, while the widest cryptographic market measured by the Coindesk 20 index is 0.65% higher.
The Avalanche Foundation did not respond to Coindesk’s request to make more comments.
