Ex-Blackstone Exec, Tether Co-Founder to Launch $1B Crypto Reserve SPAC
A Bloomberg report has revealed that former Blackstone Inc. executive Chinh Chu and Reeve Collins, co-founder of stablecoin giant Tether, are teaming up to raise $1 billion for a listed crypto vehicle that aims to build a portfolio of digital assets.
The capital is being raised through M3 Brigade Acquisition V Corp, a Special Purpose Acquisition Company (SPAC) backed by the two.
A Multi-Token Approach
Anonymous sources cited in the report said that the vehicle would hold a diversified mix of tokens, including Bitcoin (BTC), Ether (ETH), and Solana (SOL). They also revealed that the fundraising effort is ongoing, meaning that the details, including the $1 billion target, may change. Cantor Fitzgerald LP is among the…
