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Bloomberg: Tether Co-Founders Plan to Establish $1 Billion Crypto Reserve for SPAC MBAV.U, Including BTC, ETH, and SOL Assets
Summary: According to Bloomberg, former private equity giant Blackstone Group's trading matchmaker and stablecoin leader Tether's co-founders are teaming up to establish a $1 billion publicly listed crypto fund, aiming to build a diversified digital asset portfolio. Sources revealed that the fund is raising funds through the SPAC (Special Purpose Acquisition Company) M3-Brigade Acquisition V Corp. ...
According to Bloomberg, former private equity giant Blackstone Group's trading matchmaker and stablecoin leader Tether's co-founders are teaming up to establish a $1 billion publicly listed crypto fund, aiming to build a diversified digital asset portfolio.
Sources revealed that the fund is raising funds through the SPAC (Special Purpose Acquisition Company) M3-Brigade Acquisition V Corp. supported by both parties, planning to allocate various crypto assets such as Bitcoin, Ethereum, and Solana. Due to confidentiality of negotiations, these sources requested anonymity.
Fundraising is still ongoing, and specific details including the $1 billion target may still be adjusted.
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Link: Bloomberg: Tether Co-Founders Plan to Establish $1 Billion Crypto Reserve for SPAC MBAV.U, Including BTC, ETH, and SOL Assets [Copy]
