Former Blackstone, tether executive seeks $1B to build Multitoken Crypto Treasury: Bloomberg – fastbn

Former Blackstone, tether executive seeks $1B to build Multitoken Crypto Treasury: Bloomberg



A blank checking company backed by former Blackstone trader Chinh Chu and Tether co-founder Reeve Collins is seeking to raise $1 billion to build a publicly traded cryptocurrency company, Bloomberg reports Quote information about familiar plans.

The vehicle is the acquisition of V by M3-Brigade, which plans to rebrand and use cash to buy a basket of tokens, including Bitcoin

Ether and Solana’s Sol.

The move is due to the rush of global listed companies to increase cryptocurrencies as treasury assets. However, many people only focus their Bitcoin (only market cap by market cap) on Bitcoin. Among them, Anthony Pompliano’s Procap BTC said this week that it plans to openly publicly through SPAC Inventory BTC. Multilingual company Rare and Travel’s acquisition will be the first.

Jaime Leverton, former CEO of Hut 8 Mining, will run the company. Wilbur Ross, who served as U.S. Commerce Secretary, and Gabriel Abed, former UAE board chairman in Binance, will serve as vice chair.

Cantor Fitzgerald is one of the consultants, with both fundraising goals and token mixes likely to change, Bloomberg said.

The largest name companies with single coin strategy include strategies (MSTR) and metaplanet (3350)the focus is bitcoin. Other single token companies are exploring alternative coins such as Sharplink games (SBET) Accumulate ether and Nanolab Stacked into BNB.

M3-Brigade shares fell 12% after news surfaced on Wednesday, and recently rose 5% in advances.





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