Wall Street veteran and founder of SkyBridge Capital, Anthony Scaramucci, is joining the advisory board of Avax One, the Nasdaq-listed firm formerly known as AgriFORCE Growing Systems, in a high-profile move that sent Avalanche (AVAX) surging 11% intraday.
The company announced plans to raise $550 million to build a digital asset treasury focused on Layer-1 blockchain Avalanche, making the token central to its corporate strategy.
“Scaramucci is doubling down on Avalanche,” Avalanche shared in its X post yesterday.
The funding will be split between a $300 million private investment in public equity placement and $250 million through equity-linked instruments, led by HiveMind Capital.
More than 50 institutional investors, including Galaxy Digital, ParaFi, Digital Currency Group, and Kraken, are reported to be participating, with the goal of accumulating over $700 million in AVAX tokens.
Scaramucci described Avalanche as a “Swiss Army knife of Layer 1s,” noting that its flexibility comes from a unique architecture that enables customization and enhanced interoperability, which can serve as a competitive advantage.
“Lots of corporate CTOs are picking up Avalanche as part of their strategy to tokenize their funds or potentially their stocks,” Scaramucci told CNBC, highlighting growing institutional interest in the network’s capabilities.
Institutional Momentum and Global Expansion
The announcement followed SkyBridge Capital’s recent confirmation of plans to tokenize $300 million in hedge fund assets on Avalanche.
Meanwhile, the Avalanche Foundation is negotiating to raise up to $1 billion through U.S.-based investment vehicles, including proposed $500 million deals with HiveMind Capital and Dragonfly Capital. The network also gained attention in Asia, hosting South Korea’s first won-backed stablecoin, KRW1.
Beyond finance, Avalanche’s gaming ecosystem has grown rapidly, onboarding more than 13 million users in recent months. Its architecture, supporting custom Subnets and cross-chain interoperability through Avalanche Warp Messaging, positions the platform for scalable blockchain gaming and other non-financial applications.
AVAX Price Instantly Jumped
The announcement had an immediate market impact. AVAX price surged 11.4% intraday on September 22, rising from $31.86 to $35.49, and currently trades around $34.90.
Over the past month, the token has gained 37.4%, though it remains 76% below its all-time high of $146.22.
Source: TradingView
Why This Matters
Scaramucci’s involvement and the $550 million treasury highlight rising institutional confidence in Avalanche, likely boosting demand for AVAX while demonstrating the network’s versatility across tokenized assets, corporate treasuries, and gaming.
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People Also Ask:
Anthony Scaramucci, founder of SkyBridge Capital, has joined the advisory board of Avax One, a Nasdaq-listed firm building a $550 million digital asset treasury focused on Avalanche (AVAX). His involvement signals growing institutional interest in the network.
Avalanche (AVAX) is a Layer-1 blockchain known for fast transaction speeds, scalability, and customizable Subnets. It supports tokenization, decentralized finance (DeFi), and gaming applications, making it attractive for both investors and enterprises.
Avax One plans to raise $550 million through a $300 million private placement and $250 million in equity-linked instruments. The treasury will acquire AVAX tokens, positioning the network at the center of its corporate strategy.
Scaramucci’s backing provides credibility and attracts institutional investors, potentially driving AVAX demand. It also highlights Avalanche’s growing adoption among corporate CTOs for tokenization strategies.
SkyBridge Capital plans to tokenize $300 million in hedge fund assets, while the Avalanche Foundation is negotiating up to $1 billion in U.S.-based investment deals, including with HiveMind and Dragonfly Capital.
