AgriFORCE Growing Systems (Nasdaq: AGRI) announced a full pivot into crypto by rebranding as AVAX One and planning to raise $550 million to purchase Avalanche’s native token AVAX. The move is backed by SkyBridge founder Anthony Scaramucci, who will lead a strategic advisory board, and Hivemind Capital’s Matt Zhang, set to become board chair.
What Happened
- AgriFORCE will change its name to AVAX One and abandon its legacy business model.
- The company plans to raise about $550M through capital markets to buy AVAX tokens directly.
- Scaramucci and Zhang will guide strategy, with a focus on building a large AVAX treasury, staking, and tokenization projects.
Market Impact
The announcement sent AgriFORCE shares sharply higher as traders speculated on the shift into digital assets. If successful, AVAX One could become one of the first U.S.-listed firms dedicated to a non-Bitcoin crypto asset. Market participants expect volatility in AVAX as details on purchase timing and financing emerge.
Why It Matters
This development highlights growing institutional and public-market interest beyond Bitcoin. A Nasdaq-listed company accumulating AVAX signals potential mainstream adoption of alternative layer-1 tokens and could strengthen Avalanche’s ecosystem visibility.
⚖️ Key takeaway: AVAX One’s $550M raise represents a bold experiment in turning a public company into a dedicated crypto-treasury vehicle — with Avalanche at the center of the strategy.
