A new publicly traded crypto treasury firm is in the works, aiming to raise $1 billion through a special purpose acquisition company (SPAC) named M3-Brigade Acquisition V Corp. The initiative is spearheaded by Reeve Collins, co-founder of stablecoin giant Tether, and Chinh Chu, a former Blackstone private equity co-head. This venture marks a notable shift from the prevalent single-asset accumulation strategies seen in the crypto space, such as those popularized by Michael Saylor, by targeting a diversified basket of digital assets including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
The company will be led by Jaime Leverton, former CEO of crypto mining firm Hut 8, known for her extensive experience in digital asset mining and finance. She will be supported by two vice chairmen: Wilbur Ross, former U.S. Commerce Secretary, and Gabriel Abed, former Barbadian ambassador and current chairman of Binance’s board. This leadership lineup combines deep crypto expertise, institutional finance credibility, and government experience, lending significant legitimacy to the venture.
M3-Brigade Acquisition V plans to rebrand and deploy the raised capital to build a diversified crypto treasury portfolio. Unlike most public companies that have concentrated exclusively on Bitcoin as a treasury asset, this new firm’s multi-token approach aims to reduce volatility and broaden investor exposure to the largest and most liquid crypto networks. The structure will enable investors to gain regulated, equity-like exposure to these digital assets without needing to manage wallets or exchanges, effectively bridging traditional finance and crypto markets.
Advised by Cantor Fitzgerald, the SPAC’s strategy reflects a growing institutional appetite for SEC-approved, diversified crypto investment vehicles. If successful, this fund could pioneer a new model for public market crypto reserves, offering a more balanced and accessible way for retail and institutional investors to participate in the crypto economy.
This development comes amid a broader trend of publicly listed companies adding cryptocurrencies to their balance sheets as inflation hedges and alternative stores of value. However, M3-Brigade Acquisition V’s diversified treasury model stands out as a potential industry first, signaling a maturation in how digital assets are integrated into corporate finance.
In summary, M3-Brigade Acquisition V represents a high-profile, well-backed effort to create a $1 billion crypto reserve fund with a diversified portfolio, led by seasoned executives from crypto, finance, and government sectors. This initiative could reshape public market access to crypto assets by offering a regulated, multi-token treasury vehicle that contrasts sharply with the dominant single-asset accumulation strategies.
