ReserveOne Set for Nasdaq Debut Via $1B Business Combination
A newly formed digital assets management firm, ReserveOne, plans to debut on the Nasdaq through a $1 billion business combination agreement with M3-Brigade Acquisition V, a special purpose acquisition company (SPAC), both companies announced yesterday in a press release.
Investment Strategy
ReserveOne aims to accumulate a portfolio featuring Bitcoin, Ethereum, and Solana, among other cryptocurrencies, intending to leverage these assets through staking, lending, and venture capital investments.
This strategy mirrors, in part, U.S. President Donald Trump’s proposal for a national Bitcoin reserve and digital asset stockpile.
Credentials & Capitalization
Under the terms of the proposed deal, ReserveOne anticipates raising $298 million from the trust formed via the merger alongside $700 million in capital commitments from strategic investors, with completion expected by year-end.
ReserveOne’s operations will involve collaborating with financial institutions such as Galaxy Digital, Kraken, and FalconX for asset management and security.
Leadership & Board
The company’s CEO is Jaime Leverton, a former leader of Bitcoin mining company Hut 8. M3-Brigade co-founder Reeve Collins is expected to become ReserveOne’s executive chairman.
The board will feature prominent figures including former U.S. Treasury Secretary Wilbur Ross, Binance Chair Gabriel Abed, and Coinbase’s Head of Institutional Strategy, John A. D’Agostino.
Operational Setup
Coinbase will serve as the custodian for ReserveOne’s digital assets. The firm’s revenue strategies include yield generation from staking and lending, alongside potential returns from venture allocations.
In connection with the deal, several entities participated alongside M3-Brigade, including crypto firm blockchain.com and VC Pantera Capital.
Market Impact
Upon the announcement, M3-Brigade’s stock (ticker: MBAV) experienced a 7% decline to $10.84, according to Yahoo Finance data.
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