The Avalanche Foundation is currently negotiating with investors about establishing two AVAX treasury companies in the US. The goal is to acquire tokens worth a total of approximately one billion US dollars, as reported by the Financial Times.
Part of the financing will be provided through a newly established company. Furthermore, an existing Nasdaq-listed company will be used to manage AVAX reserves in the future. The capital will be used to acquire millions of AVAX tokens to significantly expand the Avalanche Foundation’s holdings.
The Avalanche Foundation is reportedly in advanced discussions with institutional investors. The first deal could be completed by the end of the month, with the conversion of the publicly traded company expected to follow later.
AVAX’s total supply is 720 million tokens, of which approximately 420 million are currently in circulation.
The AVAX price is trading at around 28 US dollars, up around eight percent compared to the previous day.