Subscribe to Bankless or sign in
Avalanche Foundation is working to establish two new crypto treasury companies in the U.S., aiming to raise $1B across a pair of deals, according to a report Wednesday from the Financial Times. The companies will reportedly buy AVAX directly from the foundation at a discount.
What’s the Scoop?
- Double-Barrel DATs: One company will be formed from scratch, while the other will be a reverse merger with an existing firm. Both are expected to operate as digital asset treasuries (DATs) with AVAX at their core.
- High-Profile Backers: The $500M Nasdaq deal is being advised by Anthony Scaramucci’s SkyBridge and led by Hivemind Capital. The second $500M raise is via a SPAC backed by Dragonfly Capital. Closings are expected by October.
- Discounted AVAX Deal: The two companies are expected to use proceeds to acquire AVAX directly from the Avalanche Foundation at below-market prices.
Bankless Take:
DATs have captured plenty of attention in crypto currency markets during recent months, but a foundation-sponsored treasury company is certainly an unprecedented first. The AVAX token currently trades 80% below its 2021 all-time high (before accounting for DAT investor discounts).
🎥 WATCH:
— CryptosRus (@CryptosR_Us) September 7, 2025Anthony Scaramucci calls @avax a "swiss army knife," referring to the blockchain's versatility. 🔥
"If you're a CTO somewhere and you want to have some customizable solutions ... Avalanche is something you're drawn to..."$AVAX pic.twitter.com/HxDn6cVDmC
