Co-Founder Tether Targets US$1 Billion for Crypto Reserve Fund
One of the founders of Tether, Reeve Collins, along with former Blackstone executive Chinh Chu, is raising funds of up to US$1 billion to launch a public crypto reserve fund through SPAC M3-Brigade Acquisition V Corp.
This fund will be invested in a portfolio of major crypto assets such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), offering long-term and diversified exposure for institutional investors.
Unlike the strategies of other companies that focus solely on one crypto asset, this fund adopts a diversification approach to mitigate risk and expand opportunities in the digital market. The SPAC structure was chosen to expedite the listing process and provide transparent access to the public market.
This initiative comes amid increasing institutional interest in digital assets. Collins stated that the primary goal of this fund is to present a stable, transparent, and institutionally-compliant crypto investment product.
If successful, this crypto reserve fund could become a new model for digital asset investment in the public market, while also strengthening institutional adoption and trust in crypto as a mature and structured asset class.