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- 🎉 The #CandyDrop Futures Challenge is live — join now to share a 6 BTC prize pool!
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Bloomberg: Tether co-founders plan to raise $1 billion in encryption reserves for SPAC MBAV.U, including assets such as BTC, ETH, and SOL.
BlockBeats news, on June 26, according to Bloomberg, former private sale giant Blackstone Group's trading facilitator is teaming up with Tether co-founder, a leader in stablecoins, to establish a public cryptocurrency fund with a scale of 1 billion dollars, aimed at building a diversified digital asset portfolio. According to knowledgeable sources, the fund is being raised through a SPAC (special purpose acquisition company) M3-Brigade Acquisition V Corp. supported by both parties, and plans to allocate various crypto assets including Bitcoin, Ethereum, and Solana. Due to the confidentiality of the negotiations, these individuals requested anonymity. Fundraising is still ongoing, and specific details, including the 1 billion dollar target, may still be adjusted.