# Avalanche Foundation Raising $1B to Fund AVAX Treasury Companies: FT

*Author: Bankless*
*Published: Sep 11, 2025*
*Source: https://www.bankless.com/read/avalanche-foundation-work-seed-1b-in-u-s-treasury-companies*

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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](https://www.ft.com/content/87b5cb20-e86c-4849-8959-ee1f87ffb388). 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: Anthony Scaramucci calls [@avax](https://twitter.com/avax?ref_src=twsrc%5Etfw) 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](https://twitter.com/search?q=%24AVAX&src=ctag&ref_src=twsrc%5Etfw) [pic.twitter.com/HxDn6cVDmC](https://t.co/HxDn6cVDmC)— CryptosRus (@CryptosR_Us) [September 7, 2025](https://twitter.com/CryptosR_Us/status/1964758952920359083?ref_src=twsrc%5Etfw)