Tether Co-Founder plans to set up a $1 billion crypto fund and create a diversified cryptocurrency reserve including BTC and ETH

Odaily News The former Blackstone Group dealmaker and the co-founder of the leading stablecoin Tether are teaming up to set up a $1 billion listed crypto fund, aiming to build a diversified digital asset portfolio. According to people familiar with the matter, the fund is raising funds through the SPAC (special purpose acquisition company) M3-Brigade Acquisition V Corp. supported by both parties, and plans to allocate multiple types of crypto assets such as Bitcoin, Ethereum and Solana. It is reported that the fundraising is still in progress, and the specific details including the $1 billion target may still be adjusted. (Bloomberglaw)