A group of well-known financial executives, including former Blackstone deal maker Reeve Collins, co-founder of Chew and Tether, reported on June 25 that it could raise $1 billion and become the first public cryptocurrency company in a diverse portfolio.
This initiative is guided through the M3-Brigade Acquisition V. M3-Brigade Acquisition V is a special purpose acquisition company (SPAC) that rebrands and redirects capital to build the balance sheets of multiple digital assets such as Bitcoin, Ethereum, and Solana.
If successful, the initiative will mark a significant deviation from the typical Bitcoin-only financial strategy that most public companies have adopted in recent months.
The company will be led by Jaime Leverton, former CEO of Crypto Mining Firm Hut 8. She will join two sub-chairs: Wilbur Ross, former U.S. Secretary of Commerce under President Donald Trump’s first administration, and Gabriel Abed, former Barbadian ambassador for the UAE, as well as the current chair of Binance’s board.
According to Bloomberg, Canter Fitzgerald advises on the funding process, but sources warn that the final structure, including token allocation, could evolve depending on market conditions and investor interest.
This move comes amid the broader trends of publicly listed companies adding digital assets to their balance sheets as an alternative reservoir for inflation hedges and value. However, most focuses on Bitcoin alone.
M3-Brigade’s planned multi-token approach represents a new financial model. Unlike a single token strategy, the proposed diversified portfolio could potentially reduce volatility and provide investors with a wide range of exposure to the largest network of the crypto market.
Other companies have recently expressed interest in similar Treasury ministry. Earlier this week, Anthony Picriano’s Procap BTC said it will be made public via SPAC to get Bitcoin.
Meanwhile, Sharplink Gaming has chosen to adopt Ethereum as a reserve asset for the Treasury, while Nano Labs has accumulated BNB, no one has taken a multi-asset approach similar to M3-Brigade’s plans.
M3-Brigade’s shares fell 12% on June 25, following the report, but recovered 5% in pre-market trading on June 26, reflecting careful investors’ interest in the company’s new direction.
The plan is wrapped up without an official announcement, with representatives from M3 Brigade, CHU and Collins declined to comment.
If completed, the initiative marks one of the most ambitious attempts to institutionalize cryptocurrency management in public markets with leadership spanning Wall Street, Stubcoin Innovation, Digital Mining and global diplomacy.