AVAX One announces CEO transition as Jolie Kahn steps down July 3

AVAX One, the Nasdaq-listed company built around an Avalanche treasury strategy, said CEO Jolie Kahn resigned effective immediately and that Chief Operating Officer Pete Wylie will serve as interim chief executive while the board searches for a permanent replacement with ZRG Partners. An 8-K filing said Kahn’s departure was by mutual agreement, was not tied to any disagreement over the company’s operations, policies or practices, and did not constitute a removal for cause. Her separation package includes a $160,000 lump-sum cash payment, reimbursement for certain medical insurance costs and $250,000 in unregistered common shares. Wylie will continue as COO while receiving $40,000 per month in the interim CEO role. Kahn led the company’s shift from AgriFORCE into an Avalanche-focused digital asset treasury company. In September 2025, AgriFORCE said it planned to rebrand as AVAX One and raise about $550 million, with a strategy aimed at building more than $700 million in AVAX holdings. The company has said its business spans digital infrastructure, Bitcoin mining and an Avalanche treasury, including Bitcoin mining facilities in Alberta and Ohio with about 300 PH/s of hashrate, while it also holds AVAX and seeks yield through staking and ecosystem participation. The leadership change comes as AVAX and related public equities remain under pressure. AVX stock was last at $5.63, up 5.13% on the day, after opening at $5.21 and trading between $5.24 and $5.86, giving the company a market capitalization near $549.1 million, according to Google Finance. Avalanche traded near $6.73, down 1.89% on the day, in a range of $6.71 to $7.01. The broader segment has also weakened: Avalanche Treasury Co. shares were previously reported down about 73% from their Nasdaq debut level after closing 38.13% lower on their first trading day in June, when the company held about 15 million AVAX.