Tether plans to establish a $1 billion cryptocurrency fund and build reserves of multiple cryptocurrencies such as BTC and ETH

Odaily Planet Daily News: Former private equity giant Blackstone Group's matchmaker and co-founder of stablecoin leader Tether are joining forces to build a $1 billion publicly traded cryptocurrency fund aimed at building a diversified digital asset portfolio. According to informed sources, the fund is raising funds through the SPAC (Special Purpose Acquisition Company) M3 Brigade Acquisition V Corp., which is supported by both parties, and plans to allocate multiple types of cryptocurrency assets such as Bitcoin, Ethereum, and Solana. It is reported that the fundraising is still ongoing, and specific details including the $1 billion target may still be adjusted. （Bloomberglaw）