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Avalanche Treasury falls 38% on Nasdaq debut after $675M SPAC merger, plans $1B AVAX acquisition

Market News
12 Jun 2026
Blockonomi
View Source
Bearish
pluang ai news

Avalanche Treasury Co. dropped 38.1% to $1.85 on its Nasdaq debut following a $675 million SPAC merger. The company plans to acquire over $1 billion worth of AVAX tokens and invest in Avalanche ecosystem development, including validator infrastructure and enterprise partnerships. Despite the stock decline, the Avalanche token (AVAX) rose 1.27% to $6.66. The firm aims to support long-term growth and institutional finance on the Avalanche network, backed by experienced leadership and major crypto investors.

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