ReserveOne plans to establish a cryptocurrency reserve dominated by Bitcoin worth over $1 billion
ChainCatcher news, according to GlobeNewswire, digital asset management company ReserveOne Inc. announced today that it has reached a definitive business combination agreement with Nasdaq-listed SPAC M3-Brigade Acquisition V Corp. The plan is to hold and manage a basket of crypto assets, centered around Bitcoin, covering assets like Ethereum and Solana that have staking and lending yield potential, aimed at providing asset appreciation services for institutional investors.This transaction is expected to bring over $1 billion in financing to ReserveOne to support its establishment of cryptocurrency reserves, including approximately $298 million in trust funds (assuming no redemptions) and $750 million in PIPE financing, which includes $500 million in common stock and warrants, and $250 million in convertible debt, with participation from institutions such as Blockchain.com, Galaxy Digital, Kraken, Pantera Capital, and ParaFi Capital.