According to the source, Avalanche Treasury Co. announced a $675 million business combination with Mountain Lake Acquisition Corp, targeting more than $1 billion of AVAX in its treasury and including approximately $460 million of treasury assets, source: Avalanche Treasury Co. company announcement. For traders, the stated plan to accumulate AVAX, if executed post-close, signals potential sustained buy-side demand and a tighter liquid float that could impact AVAX order books and liquidity conditions, with timeline contingent on deal completion and capital deployment, source: transaction intent and sizing as disclosed in the company announcement. Execution risk and timing will hinge on standard de-SPAC milestones such as SEC review, shareholder vote, and redemption outcomes before funds can be deployed toward AVAX accumulation, source: U.S. SEC guidance on SPAC business combinations.

According to @adriannewman21, merging with a SPAC offers more advantages for treasury companies than buying a NASDAQ shell for both foundations and retail participants. Source: @adriannewman21 on X, Aug 12, 2025. The author states that most shell-buyer moves tend to result in pump-and-dump dynamics, while SPAC mergers better align incentives. Source: @adriannewman21 on X, Aug 12, 2025. For trading, this view suggests monitoring whether a treasury company opts for a SPAC merger versus a shell purchase when assessing event-driven volatility and incentive alignment risk. Source: @adriannewman21 on X, Aug 12, 2025.

According to Financial Times, Anthony Pompliano is set to become CEO of ProCapBTC, a new investment vehicle targeting $750 million in Bitcoin (BTC) acquisitions. ProCapBTC aims to raise $500 million in equity and $250 million in convertible debt via a merger with Columbus Circle Capital 1, a SPAC backed by Cohen & Company. If the deal closes, ProCapBTC would purchase enough BTC to potentially rank among the top 10 corporate holders, reinforcing the growing trend of institutional Bitcoin treasury strategies. This move follows a surge of crypto-positive sentiment in the U.S. after President Trump's pro-crypto remarks, and comes amid strong BTC trading activity, with BTCUSDT currently at $101,256.96, down 0.826% in the last 24 hours. Traders should monitor for increased institutional demand, which could impact BTC liquidity and volatility near current price levels. (Source: Financial Times, BitcoinTreasuries.net, TradingView)