A white check company supported by the former Blackstone Chineh Chu and the Co-founder of Tether, Reeve Collins, is looking to raise $ 1 billion to build a cryptocurrency cash desk listed on the stock market, Bloomberg said that Bloomberg, citing sources familiar with plans.
The vehicle, M3-Brigade Acquisition V, plans to rename and use the money to buy a basket of tokens, including Bitcoin
Ether and Solana’s Sol.
This decision comes as public companies around the world rush to add cryptocurrencies as an active treasury. However, many, however, focus on Bitcoin, the largest crypto by market capitalization, alone. Among them, the Anthony Poselian Procap BTC said this week that it planned to make a spac public and fill up on BTC. Multitoken companies are rarer and the acquisition of the brigade would be among the first.
The former CEO of Hut 8 mining, Jaime Leveron, will direct the company. Wilbur Ross, who was secretary to the American trade, and Gabriel Abed, the former ambassador of the water barbados and the current president of the Binance board of directors, will act as vice-president.
Cantor Fitzgerald is one of the advisers, and the fundraising objective and the mixture of tokens could still change, said Bloomberg.
The biggest names of companies with non-NUT strategies include the strategy (MSTR) and metaplanet (3350)whose accent is put on bitcoin. Other unique tokest companies explore alternative parts, for example SharpLink Gaming (Sbet) Accumulation of ether and nano laboratories accumulating in BNB.
The actions of M3-Brigade fell 12% after the news of the plan surfaced on Wednesday and recently increased by 5% before the market.
