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Anthony Scaramucci-Backed AVAX One Approves $40M Stock Buyback
Digital asset treasury firms are increasingly turning to share buybacks to arrest plunging stock prices as investor demand sours.
Nov 20, 2025, 7:30 p.m.
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What to know:
- Avalanche treasury firm AVAX One (AVX) has approved a buyback plan for up to $40 million of its common stock.
- AVAX One is among a quickly expanding group of digital asset treasury firms turning to using repurchase programs to respond to plunging stock prices and growing discounts compared to their underlying assets.
AVAX One Technology (AVX), an Avalanche-centered digital asset treasury company with hedge fund veteran Anthony Scaramucci heading the advisory board, is the latest to turn to share buybacks to arrest plunging stock prices.
The firm said Thursday its board authorized an up to $40 million stock repurchase program, which will be executed at the company's discretion depending market conditions.
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"We expect to hit the open market soon and will continue to assess additional repurchases as conditions warrant," CEO Jolie Kahn said in a statement.
Shares are roughly 70% below their closing price on the day the company announced its crypto treasury pivot. They're little-changed on Thursday.
The move comes as several crypto treasury companies are increasingly turning to share buybacks to close steep discounts between their share prices and the value of their underlying holdings. Some firms, such as ETHZilla and FG Nexus, even sold some of their crypto assets to fund similar programs.
AVAX One, formerly known as AgriFORCE Growing Systems, pivoted in September to a crypto treasury strategy with plans to raise $550 million to acquire AVAX over time.
Read more: Ether Treasury Firm FG Nexus Unloads Nearly 11K ETH to Fund Share Buyback
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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