Avalanche Treasury shares fall 38% on Nasdaq debut after $675 million merger

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Avalanche Treasury shares plummet 38% on their Nasdaq debut following a $675 million merger, marking a significant drop in valuation. The company aims to accelerate the growth of the Avalanche ecosystem, with plans to acquire over $1 billion worth of AVAX tokens over time, fueling expansion and potentially boosting the native cryptocurrency's value in the process.