In a notable shift within the crypto landscape, AgriFORCE Growing Systems Ltd has announced its rebranding to AVAX One, positioning itself as the first NASDAQ-listed company focused on Avalanche (AVAX). This strategic move comes with an ambitious plan to raise $550 million, intending to accumulate over $700 million in AVAX tokens. The shift reflects the growing institutional interest in this emerging blockchain technology, which has already attracted major players like KKR, Apollo, and J.P. Morgan for tokenization projects.
The Avalanche network, currently backed by $6.2 billion in staked assets, has garnered significant attention as an institutional-grade settlement layer for the evolving financial ecosystem. AVAX One aims to leverage this momentum, presenting a two-layered strategy that includes a disciplined short-term accumulation of AVAX tokens and fostering long-term partnerships with fintech businesses on the Avalanche network.
CEO Jolie Kahn emphasized Avalanche’s transformative potential in global markets, while Matt Zhang, founder of Hivemind Capital and a nominee for the company’s Board Chair, articulated a vision to build the “Berkshire Hathaway of the onchain financial economy.” The company’s initiative is supported by an extensive roster of investors, including notable names like ParaFi, Galaxy Digital, Digital Currency Group, and Kraken.
In parallel, CEA Industries, which has rebranded as the BNB Network Company, is making headlines with its own significant financial maneuver. The firm has filed for a $500 million common equity PIPE (Private Investment in Public Equity) offering, along with up to $750 million in accompanying warrants. This initiative marks one of the largest institutional fundraising efforts for Binance’s BNB token, and CEO David Namdar has likened BNC’s approach to that of Michael Saylor’s initial Bitcoin investment strategy, emphasizing the long-term vision of increasing BNB ownership per share.
Since CEA Industries initiated its treasury program in August, the value of BNB has soared by 35.6%, contributing to a 47.5% increase in year-to-date performance. Namdar has pointed out the token’s current undervaluation despite its robust growth, reaffirming that BNC is committed to daily purchases of BNB, supported by a $250 million share repurchase program designed to enhance BNB ownership per share.
Both these initiatives highlight a burgeoning interest in cryptocurrency among public companies, underscoring a shift towards more institutional-level engagement in the growing blockchain economy. As AVAX and BNB strategies unfold, market participants will be closely watching how these rebranded entities navigate the evolving landscape of digital assets and the institutionalization of cryptocurrencies.
