AVAX One Technology has begun a search for a permanent CEO after Jolie Kahn resigned as CEO.
summation
- AVAX One is looking for a permanent CEO after Jolie Kahn leaves the company.
- Pete Wylie will serve as interim CEO and remain as Chief Operating Officer.
- Weak AVAX prices continue to put pressure on the publicly traded company involved in the Avalanche financial strategy.
The company said Khan has left his position effective immediately and Chief Operating Officer Pete Wiley will take over as interim CEO.
Wylie will continue in his role as COO, leading the company during the search period. AVAX One said it had retained ZRG Partners to help its board find a permanent successor.
“We have full confidence in Pete’s ability to lead the company through this transition,” said Chairman Matt Zhang.
Exit from the reception details section
In its latest 8-K filing, AVAX One said Kahn’s resignation was by mutual agreement and was not related to any disagreements with the company’s operations, policies or practices. The filing said she was not removed for cause.
This document also sets out the terms of separation. Khan will receive a lump sum of $160,000, reimbursement for certain health insurance costs, and $250,000 worth of unregistered common stock. Wylie will receive $40,000 per month while serving as interim CEO.
Avalanche treasury center is still centered
Kahn led the company during its transition from AgriFORCE to an Avalanche-focused digital asset finance company. In September 2025, AgriFORCE rebranded as AVAX One and announced plans to raise approximately $550 million.
The company said the strategy aims to build AVAX’s holdings to more than $700 million. SkyBridge Capital founder Anthony Scaramucci has been appointed to lead the strategic advisory board. Under this plan, AVAX One becomes one of the first Nasdaq-listed companies built around the Avalanche financial strategy.
AVAX One said its business now includes digital infrastructure, bitcoin mining, and avalanche vaults. The company operates Bitcoin mining facilities in Alberta and Ohio with a hash rate of approximately 300 PH/s, while holding AVAX and seeking revenue through staking and ecosystem participation.
AVX and AVAX remain under pressure.
According to Google Finance, AVX stock was trading at $5.63 at the latest check, up 5.13% on the day. The stock opened at $5.21, reached an intraday high of $5.86, and fell to a low of $5.24, giving it a market capitalization of close to $549.1 million.
Avalanche was trading near $6.73, down 1.89% on the day. The token traded between $6.71 and $7.01 during the same period, putting pressure on the company whose financial value is tied to AVAX.
The broader Avalanche Treasury market also weakened. As previously reported, shares of Avalanche Treasury Co. are down about 73% from their Nasdaq debut levels as a drop in AVAX prices weighs on its holdings in the digital asset.
As previously reported, Avalanche Treasury Co. closed 38.13% lower on its first trading day on the Nasdaq in June. The company held approximately 15 million AVAX at the time, tying its public market value closely to the token price.
The leadership change at AVAX One comes at a difficult time for the now public Avalanche finance company. The next CEO will inherit a company involved in digital infrastructure, Bitcoin mining, and AVAX accumulation at a time when token prices remain weak and investors are still testing demand for altcoin shares.