Tether Co-Founder Plans to Launch $1 Billion Crypto Fund and Build Diversified Reserves Including BTC and ETH

Odaily Planet Daily reported that a former Blackstone Group private equity dealmaker and a co-founder of stablecoin giant Tether are joining forces to launch a $1 billion publicly listed crypto fund, aiming to build a diversified digital asset portfolio. According to sources familiar with the matter, the fund is raising capital through an SPAC (Special Purpose Acquisition Company) supported by both parties, M3-Brigade Acquisition V Corp. The fund plans to allocate assets across various cryptocurrencies, including Bitcoin, Ethereum, and Solana. Fundraising is reportedly still ongoing, and specific details, including the $1 billion target, may be subject to change. (Bloomberglaw)