Crypto Treasury Firm ReserveOne Going Public in $1B SPAC Deal
Main Idea
ReserveOne, a newly launched digital asset management firm, is going public through a $1 billion SPAC deal with M3-Brigade Acquisition V Corp, backed by major crypto industry players.
Key Points
1. ReserveOne is going public via a $1 billion SPAC merger with M3-Brigade Acquisition V Corp (MBAV).
2. The deal includes $297.7 million in SPAC trust capital and $750 million in PIPE commitments from investors like Galaxy Digital, Kraken, and Pantera Capital.
3. The firm plans to hold a diversified crypto portfolio, including bitcoin (BTC), ether (ETH), and solana (SOL).
4. ReserveOne is led by former Hut 8 CEO Jamie Leverton and ex-Coinbase Asset Management head Sebastian Bea.
5. The board includes Tether co-founder Reeve Collins, former U.S. Commerce Secretary Wilbur Ross, and Coinbase’s John D’Agostino.
Description
ReserveOne, a newly launched digital asset management firm is going public through a $1 billion business combination with M3-Brigade Acquisition V Corp. (MBAV), the companies announced Tuesday . The deal includes $297.7 million in SPAC trust capital and $750 million in PIPE commitments from crypto industry heavyweights including Galaxy Digital, Kraken, Pantera Capital, Blockchain.com, and CC Capital. ReserveOne plans to hold a diversified portfolio anchored by bitcoin (BTC) and including ether (...
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