Avalanche Treasury Co. will begin trading on the Nasdaq under the ticker symbol AVAT

Odaily reported that Avalanche Treasury Co. will begin trading on the Nasdaq on Thursday under the ticker symbol AVAT. Led by Bart Smith, a former executive at Susquehanna and AllianceBernstein, the company aims to accelerate the adoption and growth of the Avalanche ecosystem by allocating capital to the Avalanche network's infrastructure and applications.

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)