Amidst the swirling mists of the digital realm, whispers of grand plans have begun to weave through the Avalanche Foundation, suggesting a ballet of financial maneuvers that might well redefine the horizon of AVAX. According to the Financial Times, the Foundation is in deep conversation, crafting two US digital asset treasury vehicles aimed at raising a staggering sum of approximately $1 billion. This treasure, so vast and so tantalizing, is destined to purchase millions of AVAX directly from the foundation, but at a discount that hints at the intricate dance of market forces and strategic foresight.
One of these vehicles, led by the enigmatic Hivemind Capital, seeks to summon up to $500 million through a Nasdaq-listed company, with the legendary Anthony Scaramucci whispering sage advice into the ears of those who dare to dream big. Meanwhile, the other, a $500 million SPAC, is sponsored by Dragonfly Capital. These deals, if they come to fruition within the next few weeks, promise to reshape the landscape, though Hivemind has confirmed its role, while the foundation remains cloaked in silence.
In the world of digital-asset treasury companies, where public and listed vehicles raise capital to hold crypto on their balance sheets, the year has seen an explosion of activity, driving demand across various tokens. Not to be outdone, Hong Kong’s HashKey Group recently announced a $500 million fund dedicated to these very strategies, a testament to the growing institutional appetite for structured ways to accumulate digital assets.
Yet, as the gears of the market tighten, Nasdaq has begun to cast a more discerning eye upon companies issuing stock primarily to buy crypto. This increased scrutiny has already cast a shadow over several “crypto treasury” entities, potentially slowing the formation of new ones. The exchange now demands enhanced disclosures and, in some cases, shareholder votes for such capital raises, a move that adds layers of complexity to the financial tapestry.
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2025-09-11 12:26