Wall Street veteran Anthony Scaramucci is doubling down on blockchain, this time with a major bet on Avalanche.
The SkyBridge Capital founder revealed on Monday that he is supporting a new digital asset treasury (DAT) platform focused on accumulating AVAX tokens, with ambitions to raise more than $550 million.
Scaramucci will chair the project’s strategic advisory board, guiding efforts to grow its holdings to over $700 million worth of AVAX. The initiative has attracted backing from large investors including Hivemind, the Avalanche Foundation, and more than 50 institutions ranging from Galaxy Digital to Digital Currency Group.
Nasdaq-Listed Firm Joins the DAT Trend
The vehicle for the project is AgriFORCE Growing Systems, a small-cap company listed on the Nasdaq under ticker AGRI, which is pivoting away from its original business and rebranding as Avax One. Shares of AGRI rocketed nearly 150% on Monday, hitting $5.99 in morning trading.
The shift highlights a growing trend: smaller publicly traded companies reinventing themselves as crypto treasuries. The model echoes Michael Saylor’s Bitcoin DAT playbook, which has inspired similar moves targeting tokens like Solana, Toncoin, and XRP.
“Swiss Army Knife” of Layer 1s
Scaramucci said Avalanche’s technology stands out for its flexibility, comparing it to a Swiss Army knife among blockchains. Corporates including Apollo and J.P. Morgan Chase have already experimented with the network’s tokenization tools, he noted, adding that interest from chief technology officers at major firms is accelerating adoption.
Avax One intends to raise about $300 million through a PIPE transaction, followed by another $250 million in equity-linked financing. Hivemind is spearheading the capital raise, with institutional and crypto-native investors joining the effort.
Scaramucci framed the bet as part of a broader conviction that leading Layer 1 chains — including Ethereum, Solana, and Avalanche — will underpin the next wave of tokenization and institutional blockchain use.
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