
"Another heavy hitter from Wall Street is diving into the crypto treasury craze. On Wednesday, a group of investors announced that it plans to establish a $671 million company dedicated to stockpiling the cryptocurrency Avalanche. Bart Smith, the former head of the crypto arm of the quantitative trading firm Susquehanna, will be CEO. Dubbed Avalanche Treasury Co., the company plans to go public on the Nasdaq in the first quarter of 2026 via a special purpose acquisition vehicle, Mountain Lake Acquisition Corp."
"Avalanche Treasury Co.'s $671 million valuation comes from about $440 million in capital it raised from investors added to the approximately $230 million with which the acquisition vehicle had already been seeded. Board members for the new company will include Rob Hadick, general partner at the crypto venture capital firm Dragonfly, and John Nahas, chief business officer at the blockchain developer Ava Labs."
Avalanche Treasury Co. will be established with a $671 million valuation to accumulate Avalanche (AVAX) tokens. Bart Smith will serve as CEO. The company will go public on Nasdaq in Q1 2026 via Mountain Lake Acquisition Corp., a SPAC. Investors include Dragonfly, ParaFi, Pantera Capital, and VanEck. The valuation comprises about $440 million raised from investors and approximately $230 million seeded by the acquisition vehicle. The firm already purchased $200 million in Avalanche tokens at a discount from the Avalanche Foundation and intends to hold over $1 billion in AVAX after merging with its acquisition target. The planned ticker is AVAT.
Read at Fortune Crypto
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