Co-Founder Tether Aims for US$1 Billion for Crypto Reserve Fund

One of the founders of Tether, Reeve Collins, along with former Blackstone executive Chinh Chu, is raising up to US$1 billion to launch a public crypto reserve fund through SPAC M3-Brigade Acquisition V Corp.
This fund will be invested in a portfolio of major crypto assets such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), providing long-term and diversified exposure for institutional investors.
Unlike the strategies of other companies that focus solely on one crypto asset, this fund adopts a diversified approach to reduce risk and expand opportunities in the digital market. The SPAC structure was chosen to accelerate the listing process and provide transparent access to the public market.
This initiative arises amid the growing interest of institutions in digital assets. Collins stated that the main goal of this fund is to provide stable, transparent, and institutionally compliant crypto investment products.
If successful, this crypto reserve fund could become a new model for digital asset investment in the public market, while also strengthening institutional adoption and trust in crypto as a mature and structured asset class.