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

Former private equity giant Blackstone Group trader and stablecoin leader Tether co-founder are teaming up to create a $1 billion publicly traded crypto fund, aiming to build a diversified digital asset portfolio. According to sources, the fund is raising funds through the SPAC (Special Purpose Acquisition Company) M3-Brigade Acquisition V Corp. supported by both parties, planning to allocate various types of crypto assets such as Bitcoin, Ethereum, and Solana. It is reported that fundraising is still ongoing, and specific details, including the $1 billion target, may still be adjusted. (Bloomberglaw)