Blockchain Biz Avalanche Raises $230M In Private Token Sale

By Elise Hansen (September 16, 2021, 5:03 PM EDT) -- Blockchain startup Avalanche said Thursday it raised $230 million from investors in a private offering that will support business and finance applications using its technology.

The funds were raised via a private token sale that wrapped up in June but was announced Thursday. The funds will go toward growing various applications of the Avalanche public blockchain, such as decentralized finance, or DeFi, and enterprise applications, the announcement said.

Avalanche, which bills itself as a competitor to Ethereum, offers a platform for smart contracts it calls "blazingly fast, low cost and eco-friendly." The platform launched in September 2020 and now has more...

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