Avalanche, a blockchain deployment platform and Layer 1 network, raised $250 million ahead of its highly-anticipated Avalanche9000 upgrade. On Dec. 12, Avalanche announced the closure of a $250 million private token sale distributing locked AVAX to investors. The round was led by Galaxy Digital, Dragonfly, and ParaFi Capital, with more than 40 investment firms participating in total. The news comes as Avalanche is gearing up for the initial mainnet launch of its Avalanche9000 upgrade on Dec. 16, with full deployment planned for early 2025. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
