Tether co-founder plans to raise $1 billion for cryptocurrency reserve fund

ChainCatcher news, according to FinanceFeeds, Tether co-founder Reeve Collins is collaborating with former Blackstone Group executive and CC Capital founder Chinh Chu to raise $1 billion through the special purpose acquisition company (SPAC) M3-Brigade Acquisition V Corp to launch a publicly traded cryptocurrency reserve fund.

The fund will focus on a diversified portfolio of leading cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), aiming to go beyond speculative trading and achieve stable, long-term digital asset exposure. By adopting a SPAC structure, the plan aims to accelerate its market entry and provide a transparent fund access route through the public market.