cryptojournalist
Big Funding Win
Blockchain platform Avalanche secured $250 million through a private token sale led by Galaxy Digital, Dragonfly, and ParaFi Capital. More than 40 companies, including SkyBridge and Morgan Creek Digital, also joined the effort.
Building the Treasury
The funds will add to Avalanche’s $3 billion AVAX treasury. This marks another milestone after a $230 million raise in 2021, spearheaded by Polychain and Three Arrows Capital.
Avalanche9000: What’s Changing?
Set to launch Dec. 16, Avalanche9000 is the platform’s most ambitious upgrade. Key updates include:
Renaming subnets as layer-1s.
Reducing validator costs to 1.33 AVAX per month.
Improved blockchain-to-blockchain communication.
The upgrade has been tested on the Fuji testnet and is ready for the mainnet. ParaFi Capital’s Ben Forman highlighted its role in advancing blockchain-based institutional finance.
