Reeve Collins and Chinh Chu stand up to raise as much as $ 1 billion through a spac to build a large cryptofond. According to a Bloomberg ReportThey have purchased sponsorship efforts in M3-Brigade Acquisition V Corp. The money would float into a mix of bitcoin, ethereum and solar. Investors will look at each step carefully.
Background on the sponsors
Reeve Collins helped to start Tether and led that company from 2013 to 2015. Chinh Chu spent years as a top dealer at Blackstone before leaving in 2015. Based on reports, each sponsorship has a sponsorship interest in M3-brigade Acquisition V Corp. that gives them a direct statement in how it Departure Going forward.
So, $ MBAV. At SSR after today. As the installation. Tether co-founder hype. Will buy the Panican shares. Mohsin Meghji is also an extremely smart cookie IYKYK. Tbh. The whole board is super solid. Unique to a spac. https://t.co/aazivjfnei
– Theforestnotttetrees (@Richtrades100) June 25, 2025
The structure of the spac
M3-Brigade Acquisition V Corp is already listed on an American exchange. Collins, a Tether Co -founder and Chu, former Blackstone Executive, works with Cantor Fitzgerald LP as an advisor. They hope to merge Spac with a newly formed fund.
The goal is to turn public capital into crypto assets. However, the plan can change before it is closed. The goal of $ 1 billion is what they are talking about at the moment.
Portfolio mix and target
The fund would hold at least three assets: Bitcoin, Ethereum and Solana. Based on reports, they appear to spread risk by choosing more than one symbol. It is opposed to a recent effort of hedge fund leader who wants $ 100 million for an only BNB tax chamber.
The consequences of the industry and the next step
Institutional interest in crypto paws has been raised over the past year. Several public companies have already added Bitcoin to their balance sheets.
This new feature can drive more companies to consider digital symbols. Kantor Fitzgerald’s role suggests that the sponsors want to follow clear rules for how money flows. Investors want updates on timing, fees and how assets are valued.
Image: Binance Academy
Regulators are still looking at spac offers carefully. Each major plan change can draw extra questions. Based on reports, Collins and CHU have not established a fixed deadline for closing. Spac was able to hunt for other goals tied to crypto or blockchain if this fund plan shifts.
This effort feels like a next step to bring crypto into mainstream of large investors. If successful, a Treasury of $ 1 billion digital access may become a new benchmark.
Image from Unsplash, charts from TradingView
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