Exclusive: Susquehanna crypto CEO departs to lead $671 million Avalanche treasury company [Fortune]
Mountain Lake Acquisition Corp. - Units (MLACU)
Company Research
Source: Fortune
establish a $671 million company dedicated to stockpiling the cryptocurrency Avalanche. Bart Smith, the former head of the crypto arm of the quantitative trading firm Susquehanna, will be CEO. Dubbed Avalanche Treasury Co., the company plans to go public on the Nasdaq in the first quarter of 2026 via a special purpose acquisition vehicle, Mountain Lake Acquisition Corp. Investors who contributed to the fundraise include the crypto venture capital firms Dragonfly, ParaFi, and Pantera Capital. VanEck, an asset manager that's made significant investments into crypto, also invested. Avalanche Treasury Co.'s $671 million valuation comes from about $440 million in capital it raised from investors added to the approximately $230 million with which the acquisition vehicle had already been seeded. Board members for the new company will include Rob Hadick, general partner at the crypto venture capital firm Dragonfly, and John Nahas, chief business officer at the blockchain developer Ava L
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MLACU
Sec Filings
- 12/5/25 - Form 425
- 10/8/25 - Form SCHEDULE
- 10/7/25 - Form 425
- MLACU's page on the SEC website