Bart Smith, previously the head of Susquehanna's crypto division, has been appointed CEO of Avalanche Treasury Co., a new entity valued at $671 million. The company plans to go public on Nasdaq through a SPAC merger with Mountain Lake Acquisition Corp. in the first quarter of 2026. Key investors in the venture include Dragonfly, ParaFi, Pantera Capital, and VanEck. Avalanche Treasury Co. has already acquired $200 million worth of AVAX tokens from the Avalanche Foundation at a discounted rate, with a goal to amass over $1 billion in AVAX holdings.