Ex-Blackstone, Tether Execs Seek $1B to Build Multitoken Crypto Treasury: Bloomberg
A blank-check company backed by former Blackstone dealmaker Chinh Chu and Tether co-founder Reeve Collins is looking to raise $1 billion to build a publicly traded cryptocurrency treasury firm, Bloomberg reported citing sources familiar with the plans.
The vehicle, M3-Brigade Acquisition V, plans to rebrand and use the cash to buy a basket of tokens including bitcoin
, ether and Solana’s sol .
The move comes as public companies worldwide are rushing to add cryptocurrencies as treasury assets. Many, however, are focusing on bitcoin, the largest crypto by market cap, alone. Among them, Anthony Pompliano’s ProCap BTC this week said it planned to go public through a SPAC and stock up on BTC. Multitoken companies are rarer and Brigade…
