Mentioned:
A company on the Nasdaq wants to go all in on Avalanche. And Anthony Scaramucci is one of their lead investors.
What’s happening:
- AgriFORCE (NASDAQ: AGRI) has publicly stated their intent to raise $550M USD to purchase Avalanche to hold directly as an asset
Why it matters:
- SkyBridge Capital founder and Wall Street legend Anthony Scaramucci is leading the new capital raise and will join AgriFORCE as a strategic advisor
Going deeper:
- Galaxy Digital (NASDAQ: GLXY), ParaFi, Digital Currency Group , Kraken and multiple other prominent digital asset venture funds are also participating in the new financing round
- AgriFORCE and Anthony Scaramucci have both publicly stated they are aiming to also generate revenue through tokenization and decentralized finance protocols within the Avalanche ecosystem and acquire startups who are building on the Avalanche blockchain and producing cash flow
The intrigue:
- The Avalanche blockchain is already being used for both tokenization and settlement by multiple large financial companies including KKR and J.P. Morgan
The fine print:
- Both the new equity raise and Avalanche accumulation strategy will ultimately require shareholder approval before it can officially close
