Anthony Scaramucci, a Wall Street veteran and founder of Skybridge Capital, is on the advisory board of Abac Swan, a Nasdaq-listed company previously known as the Agriforce Growth System.
The company announced plans to raise $550 million to build a digital assets treasury department focused on layer 1 blockchain avalanches, with tokens at the heart of its corporate strategy.
“Scaramucci doubles the avalanche,” Avalanche shared yesterday on X-Post.
The funds will be split into $250 million through $300 million private investments in public stock placements led by Hivemind Capital and through equity-related equipment.
It has been reported that more than 50 institutional investors, including Galaxy Digital, Parafi, Digital Currency Group and Kraken, are involved, with the aim of accumulating more than $700 million in Avax Tokens.
Note that Scaramucci describes the avalanche as a “layer 1 Swiss Army knife,” and its flexibility comes from a unique architecture that allows for improved customization and interoperability that serves as a competitive advantage.
“Many CTOs of companies are acquiring avalanches as part of their strategy to tokenize funds or potentially equities,” Scaramucci told CNBC, highlighting the growing institutional interest in the network’s capabilities.
Institutional momentum and global expansion
The announcement follows recent confirmation of Skybridge Capital’s plans to tokenize $300 million in avalanche hedge fund assets.
Meanwhile, the Avalanche Foundation is negotiating to raise up to $1 billion through US-based investment vehicles, including a $500 million deal proposal with Hivemind Capital and Dragonfly Capital. The network also hosted KRW1, the first Stablecoin to be won in Asia and Korea.
Beyond finance, Avalanche’s gaming ecosystem has grown rapidly, with over 13 million users in recent months. Its architecture supports cross-chain interoperability with custom subnets via avalanche messaging, deploying platforms for scalable blockchain games and other non-financial applications.
Avax prices jumped quickly
The announcement had an immediate market impact. Avax Price surged during the day by 11.4% on September 22, up from $31.86 to $35.49, and is now around $34.90.
Over the past month, the tokens have won 37.4%, 76% below the all-time high of $146.22.
Source: TradingView
Why is this important?
Scaramucci’s involvement and the $550 million Treasury Department highlights the growing institutional trust in avalanches, which could boost the demand for avax while demonstrating the versatility of tokenized assets, corporate finance and the networks across the game.
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People ask:
Skybridge Capital founder Anthony Scaramucci joined the advisory board for Avax One, a NASDAQ-registered company that builds the $550 million digital assets Treasury focused on Avalanche (Avax). His involvement shows a growing institutional interest in the network.
Avalanche (Avax) is a Layer-1 blockchain known for its fast transaction speed, scalability and customizable subnets. It supports tokenization, decentralized finance (DEFI), and gaming applications, making it attractive for both investors and businesses.
Avax One is planning to raise $550 million through $300 million private placements and $250 million in equity-related products. The Ministry of Finance acquires Avax tokens and places the network at the heart of its corporate strategy.
Scaramucci’s support could provide credibility, attract institutional investors and drive Avax’s demand. It also highlights the increased adoption of avalanches among corporate CTOs for tokenization strategies.
Skybridge Capital is planning to tokenize $300 million hedge fund assets, and the Avalanche Foundation is negotiating up to $1 billion US-based investment transactions, including Hivemind and Dragonfly Capital.