Tether Co-founder & Blackstone Exec Launch $1B Crypto Reserve Fund

A significant move in the cryptocurrency world, Tether co-founder and a former Blackstone executive are joining forces to launch a $1 billion cryptocurrency reserve fund. According to Wooblockchain, the initiative aims to create a listed fund holding a diverse portfolio of digital assets. $1 Billion Crypto Fund: A Diversified Approach The fund will reportedly allocate capital across various prominent cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). This diversified approach aims to mitigate risk and capitalize on the growth potential of different blockchain ecosystems. M3-Brigade Acquisition SPAC to Raise Capital Capital raising will be facilitated through M3-Brigade Acquisition, a special purpose acquisition company (SPAC). This method allows for a quicker path to public listing compared to traditional IPOs, providing investors with easier access to the fund's performance. The launch signifies growing institutional interest in the crypto space and the development of more sophisticated investment vehicles. ```