Wilbur Ross and Gabriel Abed Join as Vice Chairmen of New Crypto Venture
On Thursday, June 26, 2025, Bloomberg reported that a former Blackstone dealmaker and a co-founder of Tether Holdings SA are collaborating to raise $1 billion for a newly established crypto investment vehicle. This initiative, named M3-Brigade Acquisition V Corp., will focus on holding a diversified portfolio of digital assets, including Bitcoin, Ether, and Solana.
The leadership team for this venture includes Jaime Leverton, who will serve as CEO, while Wilbur Ross, the former U.S. Secretary of Commerce, and Gabriel Abed, chair of Binance’s board, will take on roles as vice chairmen. The fundraising campaign is currently in progress, with Cantor Fitzgerald LP providing advisory services. As discussions are ongoing, specific details, including the $1 billion fundraising target, may evolve.
The M3-Brigade Acquisition V Corp. is classified as a special-purpose acquisition company (SPAC) and aims to capture a broad spectrum of digital tokens. Sources familiar with the matter indicated that the vehicle is designed to pursue a multi-token strategy, contrasting sharply with approaches taken by other firms that focus exclusively on Bitcoin, such as Metaplanet and Michael Saylor’s Strategy.
This initiative comes in light of a recent executive order signed by former President Donald Trump, which aimed to establish a Bitcoin reserve along with a multi-token stockpile for the U.S. government. The tokens within this reserve could be liquidated under specific conditions, excluding Bitcoin.
Reeve Collins, a co-founder of Tether, and an affiliate of CC Capital, which was founded by former Blackstone co-head Chinh Chu, acquired sponsor interests in M3-Brigade in May. The venture intends to explore opportunities related to digital assets.
Source: Bloomberg
