A blank-check company supported by former Blackstone Dealmaker Chinh Chu and Tether-Medter Reeve Collins is looking to collect $ 1 billion to build a listed cryptocurrency-tax company reported Bloomberg with reference to sources.
The vehicle, M3-Brigade Acquisition V, plans to redirect and use the cash to buy a basket with tokens including Bitcoin
Ether and Solana’s sun.
The move is coming as public companies around the world rush to add cryptocurrencies as a treasury assets. However, many focus on Bitcoin, the largest crypto after market capital, alone. Among them, Anthony Pompliano’s Procap BTC said this week that it was planning to be public through a spac and stocked on BTC. Multitoken companies are rarer and the acquisition of Brigade would be among the first.
Former Hut 8 Mining CEO Jaime Leveron runs the company. Wilbur Ross, who served as American Trade Secretary, and Gabriel Abed, Barbado’s former ambassador to UAE and current chairman of Binance’s board of directors, will serve as Vice -President.
Cantor Fitzgerald is among the advisers, and both the fundraising goal and the token mix could still change, Bloomberg said.
The largest name companies with single-Coin strategies include strategy (Mstr) and metaplanet (3350)If the focus is on Bitcoin. Other single tokens —firmaes are investigating alternative coins, for example Sharplink Gaming (Sbet) Accumulation of Ether and Nano Laboratories poured into BNB.
Shares of M3-Brigade fell 12% after the news of the plan appeared Wednesday and recently was up 5% pre-market.
