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Avalanche Treasury Just Hit A Major Roadblock
$AVAX treasury firm, AVAX One's lender has raised its minimum liquidity requirement 35 fold to $3.5 million, according to a recent SEC filing.
The amended covenant only recognizes bank cash and custodied Bitcoin. AVAX One holds nearly 14 million AVAX tokens worth about $88 million. None of that Avalanche treasury counts toward the new threshold.
The change follows CEO Jolie Kahn's July departure, which triggered a covenant default.
Source: CryptoSlate
Over the past several months, we’ve focused on one thing: showing what’s possible when blockchain technology is put to work.
Today, we’re bringing that story together.
Our new brand reflects a simple belief: the future of blockchain will be defined by businesses using the technology to move money, modernize infrastructure, and create entirely new products and experiences.
You’ll also notice a renewed connection to the imagery that inspired our name. Because like an avalanche, transformational change builds slowly, gains momentum, and eventually becomes impossible to ignore.
That’s the moment we believe this industry is entering.
Avalanche. Technology Built for Business.
https://t.co/5zLgvyoEAv