Company: MLAC
Filing Date: 2025-12-30
Form Type: 425
Source: 0001213900-25-126602
Chunk: 3

Company: Mountain Lake Acquisition Corp.
Filing Date: 2025-12-30
Form: 425
Chunk 3
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 like a
fairly difficult and slow-moving regulator to maybe harmonize some of their rulemaking. But then you have all these other money centers.
You’re going to have, you know, you have MICA for broad EU. You have, you know, a lot of people going to UAE. And then you have
all the money centers, you know, in the Far East, right? So you have like Singapore, Hong Kong, Seoul, Tokyo. So there’s a lot of
things for global firms, particularly global banks, to make sure that they are harmonizing the rules so that they can run businesses globally.
And they don’t have to have a different set of rules and a different set of groups and groups that can’t really function globally
because there’s different rules and regs in each locale. So I think we’ve made a lot of progress. I think institutions are
very interested. What we haven’t solved for is kind of this, you know, banks being able to be kind of prime brokers for liquidity
providers and market makers in the space. I think, you know, the events from a couple of weeks ago, that was a function of that. Like
that just, there isn’t enough capital that’s fungible and where you can arbitrage price differences and different platforms
and in different areas. So that’s stuff that still needs to happen. But like from where we were 12 months ago, yeah, it’s,
you know, we’re light years. So that part’s good. But we still have a lot of work to do.

Tony Edward:Yeah, it’s a great point. Because I’ve
been hearing some folks are, for example, not happy with the EU and the MICA regulations there. And there’s some departures. But
then, you know, you have the United States getting ready to pass the Clarity Act once the government opens up. But to your point, how
does this all mesh together and with these big jurisdictions? So, like you said, there’s work to be done here.

Bart Smith: Correct. Yes, I agree.

Tony Edward: All right. Let’s talk about Avalanche Treasury
Co. Give us the full rundown, the history, the mission, and much more.

Bart Smith: So in my previous firm, we were looking at a lot
of these digital asset treasuries and some are good, some were less attractive to us. We were very interested in different structures,
right?