AVAX One shares plunge 32% on potential insider sell-off

Shares of AVAX One, a digital asset manager advised by SkyBridge Capital founder Anthony Scaramucci, have plunged 32% amid uncertainty over a potential shareholder sell-off. According to CoinDesk, the company has filed with the U.S. Securities and Exchange Commission (SEC) to register up to 74 million shares held by insiders for possible sale. While the timing of the sale has not been specified, the move makes the shares available for resale on the public market, fueling concerns about the potential dilution of the stock's value.