Avalanche Foundation plans multi-billion dollar AVAX treasury

• The Avalanche Foundation is currently negotiating with investors to launch two AVAX treasury companies in the US. The goal is to acquire tokens worth a total of around 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 company will be used to manage the AVAX reserves. The capital will be used to purchase millions of AVAX tokens to significantly expand the Avalanche Foundation's holdings.
• The Avalanche Foundation is reportedly already in advanced discussions with institutional investors. The first deal could be completed by the end of the month, with the conversion of the listed company likely to follow later.
• The total supply of AVAX is 720 million tokens, of which around 420 million are currently in circulation.
• The AVAX share price is trading at around $28, up about eight percent compared to the previous day.

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Sources

Financial Times report