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Flash

Avalanche Treasury fell 16% on its first day of trading, putting pressure on the concept of crypto asset vaults

Avalanche Treasury Company officially listed on Nasdaq under the code AVAT on Thursday, but faced a sell-off on its first day of trading, with the stock price dropping 16% from the opening to close at $1.85.The company completed its listing through a merger with SPAC Mountain Lake Acquisition, with a total transaction size of approximately $675 million, and received support from institutions such as Dragonfly, Pantera, ParaFi Capital, VanEck, Galaxy Digital, and Kraken.Avalanche Treasury holds approximately 15 million AVAX tokens, aiming to provide investors with exposure to the Avalanche ecosystem without the need to hold the tokens directly. CEO Bart Smith stated that this strategy is not a direct bet on price, but rather a long-term investment in the potential for institutional financial restructuring.Although the Avalanche ecosystem has attracted over 550 projects and more than $1 billion in institutional funds since its launch in 2020, its native token AVAX has recently faced significant pressure, with prices falling back to near five-year lows.Market data shows that AVAT's first-day performance continued the generally weak trend of crypto "Digital Asset Treasury (DAT)" companies. Previous related listings such as Strategy, Bitmine, and SOL Strategies have all experienced significant pullbacks, reflecting ongoing valuation pressure for such assets in the crypto bear market environment.

The Resolv Foundation announced an attack handling solution and launched a new business line, Vault Street, for RWA

According to official news, the Resolv Foundation has released a complete recovery framework following the protocol security incident. Previously, on March 22, 2026, the protocol was attacked due to a security vulnerability, resulting in the illegal minting of USR tokens entering the market. The protocol subsequently suspended operations and entered recovery mode. Resolv stated that USR was designed as a "premium layer" stable asset backed by collateral, while RLP served as an "insurance layer" to absorb losses. According to the recovery plan, USR/wstUSR held before the attack will be exchanged for USDC at a 1:1 ratio, while USR purchased after the attack will be processed at a 1:0.5 USDC ratio; RLP holders will recover approximately 60%+, with part of the compensation distributed in the form of RESOLV tokens. The official compensation application window is open for three months.At the same time, Resolv announced the launch of a new business line called "Vault Street," managed by the Resolv Foundation, focusing on the distribution and structured yield products of tokenized real-world assets (RWA). The first product, primeUSD, has entered the private testing phase, open to professional institutional investors, allowing users to participate in leveraged U.S. Treasury yield strategies through stablecoins. Resolv stated that this product combines structured financing experience from traditional finance with on-chain DeFi infrastructure, aiming to build an institutional-level RWA yield distribution platform. In addition, the functionality of the RESOLV token remains unchanged, with staking and unstaking functions restored, and reward distribution resumed on May 26. Resolv emphasized that it will continue to promote the expansion of Vault Street products, upgrade security architecture, and build on-chain infrastructure for institutional-level assets, stating that "the phase from protocol launch to security incident has ended, and Vault Street will open a new chapter for Resolv."
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