Former BlackRock executives team up with Tether founder to establish a $1 billion encryption fund.

2025-06-25 16:30:31

On June 26, according to reports, former private sale giant Blackstone Group’s trading facilitator is collaborating with Tether’s co-founder, a leader in stablecoins, to establish a publicly listed encryption fund with a scale of 1 billion dollars, aiming to build a diversified digital asset portfolio.

According to informed sources, the fund is raising capital through the SPAC (Special Purpose Acquisition Company) M3-Brigade Acquisition V Corp. supported by both parties, with plans to allocate various types of digital assets such as Bitcoin, Ethereum, and Solana. Due to the confidentiality of the negotiations, these individuals requested anonymity.

The fundraising is still ongoing, and specific details, including the target of 1 billion dollars, may still be adjusted.

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