For years, mainstream media has taken a hostile stance toward the cryptocurrency industry, often amplifying anti-crypto narratives with exaggerated headlines and misleading reports. Binance, the world’s largest exchange by trading volume, has repeatedly found itself in the crosshairs of such coverage. In October 2023, during escalating tensions in the Middle East, U.S. outlets circulated claims that Hamas had used cryptocurrencies to finance attacks. Binance was quickly portrayed as a facilitator of illicit transactions, despite the amounts involved being relatively small. The exchange ultimately resolved its disputes with regulators by paying multibillion-dollar fines and tightening its KYC and AML processes, though this came at the cost of scaling back operations in the U.S.
Founder Changpeng Zhao (CZ) recently revealed that, at the height of this controversy, he faced an attempted media shakedown. According to CZ, someone demanded $4.4 billion in exchange for suppressing fabricated stories such as “Binance helped terrorists.” He refused, framing the incident as proof that orchestrated attacks may have fueled the negative press coverage during that period.
While Binance has been navigating regulatory battles, Avalanche Treasury has been building a bridge for institutional investors. The firm announced a $675 million merger with Mountain Lake Acquisition, including $460 million in treasury assets and a $200 million discounted AVAX allocation from the Avalanche Foundation. The plan is to establish a publicly traded AVAX-focused investment vehicle, with a Nasdaq listing targeted for early 2026.
Avalanche Treasury promises institutional buyers entry at a 23% discount compared to direct token purchases or ETF-like products, with the goal of surpassing $1 billion in AVAX holdings. The deal also grants an 18-month priority window for U.S. corporate treasury investors. Strategic backing comes from FalconX, PJT Partners, Barclays, VanEck, Galaxy Digital, Pantera Capital, and Kraken, while leadership blends Wall Street expertise with crypto-native experience. Advisors include Ava Labs founder Emin Gün Sirer, Aave founder Stani Kulechov, and Dragonfly’s Haseeb Qureshi.
Despite the announcement, market reaction was muted, with AVAX trading at $30.56, down 0.8% in the past 24 hours at the time of reporting.