Bloomberg: Tether Co-Founder and Others Plan to Establish $1 Billion Cryptocurrency Reserve for SPAC MBAC.U, Including Assets Such as BTC, ETH, and SOL

BlockBeats News, June 26: According to Bloomberg, a former private equity giant Blackstone Group's trading venue operator is teaming up with the co-founder of the leading stablecoin Tether to establish a $1 billion public crypto fund aimed at building a diversified digital asset portfolio.

According to sources familiar with the matter, the fund is raising capital through a SPAC (Special Purpose Acquisition Company) supported by both parties, M3-Brigade Acquisition V Corp., and plans to allocate various crypto assets such as Bitcoin, Ethereum, and Solana. Due to the confidentiality of the negotiations, these sources requested anonymity.

Currently, the fundraising is still ongoing, and specific details, including the $1 billion target, may still be adjusted.