A former Blackstone executive and a co-founder of stablecoin issuer Tether are collaborating to raise $1 billion through the special purpose acquisition company (SPAC) M3-Brigade Acquisition V Corp. The funds will be used to launch a publicly listed crypto reserve vehicle that will hold a diversified portfolio of digital assets, including Bitcoin, Ethereum, and Solana. The fundraising effort is ongoing, and specific terms have not yet been disclosed. This new investment vehicle aims to provide public market exposure to a treasury of major cryptocurrencies.