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 parties advising on the deal.
Furthermore, Wilbur Ross, the Secretary of Commerce in U.S. President Donald Trump’s first administration, has reportedly been tapped to serve as vice chair alongside Binance board chairman Gabriel Abed. The venture will also have ex-Hut 8 Min
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