ReserveOne Set to Raise Over $1B via SPAC Merger with M3-Brigade on Nasdaq
Deal News | Jul 09, 2025 | EIN
ReserveOne, a burgeoning cryptocurrency firm, is set to float on the Nasdaq by merging with the blank-check company M3-Brigade Acquisition V Corp, in an endeavor poised to raise in excess of $1 billion. This innovative strategy aims to manage a robust portfolio encompassing renowned cryptocurrencies including bitcoin, ethereum, and Solana, whilst aligning its interests with the U.S. strategic crypto reserve. The transaction, anticipated to conclude within the fourth quarter of the year, represents a significant advance in transforming crypto assets into equity to attract mainstream investors. With a proficient team at its helm, including former Hut 8 exec Jaime Leverton and ex-BlackRock and Coinbase manager Sebastian Bea, ReserveOne boasts a competitive edge in a saturated market. The firm's board, chaired by Tether co-founder Reeve Collins, features notable figures like former Blackstone dealmaker Chinh Chu, and ex-U.S. Commerce Secretary Wilbur Ross, who has recently shown increased interest in the sector. Supported by industry stalwarts like Blockchain.com and Kraken, M3-Brigade’s agreement with ReserveOne embraces equity and convertible debt investments tallying as much as $750 million.
Sectors
- Cryptocurrency
- Finance/Investment
- SPACs (Special Purpose Acquisition Companies)
Geography
- United States – ReserveOne plans to list on the Nasdaq, a U.S.-based stock exchange, and aligns holdings with the U.S. strategic crypto reserve.
Industry
- Cryptocurrency – ReserveOne is a new cryptocurrency venture managing a portfolio of significant crypto assets like bitcoin, ethereum, and Solana.
- Finance/Investment – The merger with M3-Brigade Acquisition V Corp and the involvement of financial veterans indicate activity in the finance and investment sector.
- SPACs (Special Purpose Acquisition Companies) – M3-Brigade is a SPAC, facilitating ReserveOne’s entry into public markets through the merger.
Financials
- $1 billion – The expected amount to be raised by ReserveOne through the SPAC merger.
- $750 million – The amount contributed by investors like Blockchain.com and Kraken via equity and convertible debt offerings.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ReserveOne | Target Company | Company | A new crypto venture aiming to manage a portfolio of cryptocurrencies and align with the U.S. strategic crypto reserve. |
| M3-Brigade Acquisition V Corp | Bidding Company/Buyer | Company | A blank-check company merging with ReserveOne to facilitate its Nasdaq listing. |
| Jaime Leverton | CEO | Person | CEO of ReserveOne and former leader of Hut 8, a crypto mining and computing service provider. |
| Sebastian Bea | President and Head of Investment | Person | Former executive at BlackRock and Coinbase, now serving as ReserveOne’s president. |
| Reeve Collins | Chair of the Board | Person | Co-founder of Tether, now chairing ReserveOne’s board. |
| Chinh Chu | Board Member | Person | Former Blackstone dealmaker, now serving on ReserveOne’s board. |
| Wilbur Ross | Board Member | Person | Former Secretary of Commerce under the Trump administration, now a board member of ReserveOne. |
| Blockchain.com | Investor | Company | Among the investors contributing to the blank-check deal with ReserveOne. |
| Kraken | Investor | Company | Supporting the blank-check transaction with ReserveOne through investment. |