Svmuureports that Avalanche Treasury Co. will begin trading on the Nasdaq on Thursday under the ticker symbol AVAT. The company, led by Bart Smith, a former executive at Susquehanna and AllianceBernstein, aims to accelerate the adoption and growth of the Avalanche ecosystem by allocating capital to infrastructure and applications on the Avalanche network.
The company previously merged with blank-check company Mountain Lake Acquisition Corp. in a $675 million deal. Currently, the Avalanche network hosts approximately 550 projects, with over $1.3 billion in tokenized real-world assets. Avalanche Treasury Co. holds approximately 15 million AVAX tokens, representing about 3.5% of the circulating supply. (CNBC)