Avalanche (AVAX) Foundation to Raise $1 Billion Through Two U.S. Crypto Treasury Companies — Hivemind, Dragonfly and Scaramucci Involved

According to the Financial Times, the Avalanche Foundation is reported to be planning a roughly $1 billion capital raise through the establishment of two U.S.-based cryptocurrency treasury vehicles. The initiative reportedly involves both the creation of a new digital-asset treasury company and the conversion of an existing Nasdaq-listed entity, with proceeds intended to enable the acquisition of AVAX tokens from the foundation at a discounted price.

Sources indicate one transaction is being led by Hivemind Capital, targeting up to $500 million within a Nasdaq-listed structure and naming Anthony Scaramucci as an advisor, while a second effort linked to Dragonfly Capital‘s SPAC aims to secure the remaining $500 million. These developments reflect reported discussions focused on treasury management and strategic digital-asset allocation.