Avalanche raises $250 million in funding ahead of Avalanche 9000 upgrade

On the 12th (local time), Avalanche, a Layer 1 blockchain, announced that it has acquired Galaxy Digital, Dragonfly, and ParaFi
The company announced that it had completed a $250 million private token sale led by Ethereum Capital.
Limited, Hivemind, Big Brain Holdings, Hypersphere, Lvna Capital, Republic
More than 40 companies participated in the token sale, including Capital, Morgan Creek Digital, and FinTech Collective.
This round of funding is the latest in a series of Avalanche Developer Tools that will be the most significant upgrade in Avalanche's history.
The move came ahead of the release of the network upgrade for the iPhone 9000.
The $250 million will be added to Avalanche's treasury. Currently, Avalanche has approximately $3 billion in AVAX tokens.
As previously reported, Avalanche will acquire Polychain and Three Arrows in 2021.
The company raised $230 million in a private token sale led by Ethereum Capital.
The Avalanche 9000 upgrade builds on the Etna Upgrade and community suggestions ACP-77 and ACP-125.
The main changes include a redesign of how subnets (now renamed Layer 1) work, and increasing the cost of validators from 2000 AVAX to 1.33
These include a change to a monthly AVAX subscription and enhanced centralization of interchain communication.