M3-Brigade Acquisition V Aims to Raise $1 Billion for Diversified Crypto Treasury Firm

A group of prominent financial executives, including former Blackstone dealmaker Chinh Chu and Tether co-founder Reeve Collins, are aiming to raise $1 billion to establish what could be the first publicly traded crypto treasury firm with a diversified portfolio. This initiative is being led through M3-Brigade Acquisition V, a special-purpose acquisition company (SPAC) that plans to rebrand and redirect its capital toward building a balance sheet of multiple digital assets, including Bitcoin, Ethereum, and Solana.

If successful, this initiative would mark a significant departure from the typical Bitcoin-only treasury strategies employed by most public firms in recent months. The company will be led by Jaime Leverton, the former CEO of crypto mining firm Hut 8. She will be joined by two vice chairs: Wilbur Ross, former U.S. Commerce Secretary, and Gabriel Abed, the former Barbadian ambassador and current chairman of Binance’s board.

This move comes amid a broader trend of publicly listed companies adding digital assets to their balance sheets as an inflation hedge and alternative store of value. However, most have focused exclusively on Bitcoin. M3-Brigade’s planned multitoken approach would represent a novel treasury model. Unlike single-token strategies, the proposed diversified portfolio could potentially reduce volatility and offer investors broader exposure to the crypto market’s largest networks.

Other firms have recently expressed interest in similar treasury plays. Earlier this week, Anthony Pompliano’s ProCap BTC said it would go public via a SPAC to acquire Bitcoin. Meanwhile, SharpLink Gaming has chosen to adopt Ethereum as a reserve asset for its treasury, while Nano Labs is accumulating BNB, but none have taken a multi-asset approach akin to M3-Brigade’s plans.

The plan remains under wraps with no official announcement, and representatives for M3-Brigade, Chu, and Collins have declined to comment. If completed, the initiative would mark one of the most ambitious attempts yet to institutionalize crypto treasury management on public markets, with leadership spanning Wall Street, stablecoin innovation, digital mining, and global diplomacy.

This initiative highlights the growing interest in diversified crypto treasury strategies among high-profile financial executives. The involvement of former Blackstone dealmaker Chinh Chu and Tether co-founder Reeve Collins, along with the leadership of Jaime Leverton, Wilbur Ross, and Gabriel Abed, underscores the potential for a significant shift in how public companies manage their digital asset holdings. The proposed diversified portfolio could offer investors a more balanced and potentially less volatile exposure to the crypto market, setting a new standard for institutional crypto treasury management.