Avalanche Foundation Eyes $1B Raise to Fund Two Crypto Treasury Companies: FT

Group 1 - The Avalanche Foundation aims to raise $1 billion to establish two crypto treasury companies that will hold millions of AVAX tokens, purchasing them at a discounted price from the foundation [1] - The foundation is in discussions to raise up to $500 million through a private investment led by Hivemind Capital in an unidentified Nasdaq-listed company, with plans to finalize the deal by the end of the month [2] - A second deal is intended to create an AVAX treasury company via a special purpose acquisition company (SPAC) [2] Group 2 - There has been a trend of publicly-listed companies shifting to a crypto treasury strategy this year, inspired by Michael Saylor's approach, which has resulted in holding nearly 640,000 BTC valued at approximately $73 billion [3] - The cooling of the crypto bull market in August has negatively impacted the shares of many companies pursuing this model, potentially reducing enthusiasm for the strategy [3] Group 3 - AVAX experienced an increase of nearly 8% in the last 24 hours but has seen a decline of around 2.1% since midnight UTC, while the broader crypto market, as measured by the CoinDesk 20 Index, is up by 0.65% [4]