In brief
ReserveOne is expected to debut on the Nasdaq through a business combination agreement with M3-Brigade, both companies said.
The company will accumulate Bitcoin, Ethereum, and Solana, while leveraging staking and lending and making venture capital investments.
The company’s board of directors includes names from Coinbase and Binance, as well as former U.S. Treasury Secretary Wilbur Ross.
ReserveOne, a newly formed digital assets management firm, will debut on the Nasdaq through a $1 billion business combination with M3-Brigade Acquisition V, a blank-cheque company, both firms said in a press release on Tuesday.
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Mirroring U.S. President Donald Trump’s Bitcoin reserve and digital asset stockpile, ReserveOne plans to accumulate Bitcoin, Ethereum, and Solana, among other cryptocurrencies that could be leveraged in staking and lending, the companies said.
Under the business combination, ReserveOne expects $298 million in trust capital, alongside $750 million in capital committed by strategic investors, with the transaction expected to close in the fourth quarter of this year, ReserveOne and M3-Brigade said.
Although ReserveOne isn’t calling itself a crypto treasury firm, the company is the latest to devote itself to holding digital assets on its balance sheet. The companies said ReserveOne will work with investment and financial services firm Galaxy Digital, crypto exchange Kraken, and primer brokerage FalconX in “securing and activating its assets.”
Those firms participated in the Business combination, alongside crypto exchange blockchain.com and venture capital firm Pantera, among others, both companies said.
ReserveOne will be led by Jaime Leverton as CEO, who previously led Hut 8 as CEO. The Bitcoin miner that was among the first public firms to add Bitcoin to its balance sheet.
“Our disciplined, yield-focused strategy is designed to set a new standard for regulated crypto investing,” she said in a statement.
Tether co-founder Reeve Collins currently serves as CEO of M3-Brigade, and he is expected to become executive chairman of ReserveOne, both companies said. Other members of the board are expected to include former U.S. treasury secretary Wilbur Ross, Binance Chair Gabriel Abed, and Coinbase’s Institutional Head of Strategy John D’Agostino, both firms added.
Coinbase will serve as ReserveOne’s custodian, safeguarding digital assets that the firm acquires as part of its efforts to maximize shareholder value. In addition to lending and staking, both companies said that ReserveOne will aim to offer returns through venture allocation.
M3-Brigade’s stock currently trades under the ticker “MBAV,” but ReserveOne’s shares are expected to trade under the ticker symbol “RONE,” both firms added.
M3-Brigade’s stock price fell 7% on Tuesday, hitting $10.84 around noon Easter Time, according to Yahoo Finance. Year-to-date, shares have climbed 7.4% from $10 in January.
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