Former Tether, Hut 8, Blackstone execs to launch $1B crypto treasury firm
A group of high-profile financial executives, including former Blackstone dealmaker Chinh Chu and Tether co-founder Reeve Collins, are seeking to raise $1 billion to launch what could become the first publicly traded crypto treasury firm with a diversified portfolio, Bloomberg News reported on June 25, citing people familiar with the matter.
The effort is being led through M3-Brigade Acquisition V, a special-purpose acquisition company (SPAC) that will rebrand and redirect its capital toward building a balance sheet of multiple digital assets, including Bitcoin, Ethereum, and Solana.
If successful, the initiative would mark a significant departure from the typical Bitcoin-only treasury strategies employed by most public firms in recent…
