Blog

Avalanche Crypto Treasury Company to be public in $ 675m Spac


Avax’s price, the native token of the avalanche blockchain, jumped after a newly formed company announced its plans to go public to the US and bought more than $ 1 billion worth of token.

The company, Avalanche Treasury Co., Says On Wednesday this will be combined with the Special Purpose Acquisition Company (SPAC) Mountain Lake Acquisition Corp. to a deal worth more than $ 675 million.

The combined -joint company hopes to be listed in Nasdaq in the first quarter of 2026 under the ticker symbol “Avat,” subject to regulation and shareholder.

Emin Gün Sirer, the founder and CEO of Avalanche Blockchain The AVA labs firm, will join the company as a counselor.

Business is the second called Treasury Company dedicated to Avalanche and joined a flock of Companies Going public or pivoting to buy and handling cryptocurrencies this year.

Avalanche Treasury CO eyes are $ 1 billion handling Avax

Avalanche Treasury Co said it has an “exclusive relationship” with the Avalanche Foundation, an organization that supports The blockchainalready reportedly planned to sell millions of avalanche (Avax) Tokens At a discount price to treasury companies.

The Treasury company said it plans to have more than $ 1 billion worth of AVAX after its public next year, and its initial increase in capital “will result in approximately $ 460 million in treasury -funded funds.”

Source: Avalanche Treasury Co.

Avax Rose shortly after the announcement on an intraday high of $ 31.32. This is from chilled but remains 2.3% in the past 24 hours, According to In coingecko.

Crypto -focused companies and companies support integration, including Dragonfly, Vaneck, Falconx, Monarq, Galaxy Digital, Pantera Capital, Coinfund and Kraken.

Bart Smith, the former CEO of Major Crypto Market Maker Susquehanna Crypto, was named CEO of Avalanche Treasury Co.

Avalanche Treasury CO plans to be active in onchain

The company said it would conduct additional activities to generate revenue “beyond passive accumulation” and also plans to be active in the avalanche blockchain.

It added that it will put funds through “targeted protocol investments,” help businesses with tokenizing real-world assets and stablecoins, and establish its own validator infrastructure.