Crypto Firm ReserveOne Plans IPO, to Raise $1 Billion
The US-based ReserveOne Inc., a newly formed, first-of-its-kind digital asset management firm inspired by the proposed US Strategic Bitcoin Reserve and Digital Asset Stockpile, has entered into a business combination agreement with M3-Brigade Acquisition V Corp., a special purpose acquisition company.
ReserveOne will hold and manage a diverse basket of cryptocurrencies anchored with Bitcoin, and including Ethereum, Solana, and others with the potential for yield generation through institutional staking and lending.
The transaction is expected to provide more than $1 billion in gross proceeds, including up to approximately $297.7 million of capital held in M3-Brigade’s trust account (assuming no redemptions) and an aggregate of $750 million in committed capital from leading institutional investors pursuant to subscription agreements, consisting of $500 million of common equity and warrants, and an aggregate principal amount of $250 million in convertible notes (the PIPE Offerings).
The PIPE Offerings included participation by prominent strategic investors, including Blockchain.com, CC Capital, FalconX, Galaxy Digital, Hivemind Capital, Kraken, Mantle, Monarq Asset Management, Origin Protocol, Pantera Capital, ParaFi Capital, and Republic Digital.
The PIPE Offerings will close contemporaneously with the proposed business combination. This capital is expected to accelerate ReserveOne’s growth and strategy, solidifying its position as a category-defining platform in the digital asset ecosystem.
ReserveOne will be led by CEO Jaime Leverton, an industry veteran who previously served as CEO of Hut 8, the first publicly traded company to hold Bitcoin on its balance sheet. She also serves as a board member of Riot Platforms, Synteq Digital, New West Data, and Vertical Data.
Sebastian Bea will serve as President and Head of Investment at ReserveOne, bringing deep expertise at the intersection of traditional finance and digital assets. He previously led Coinbase Asset Management and has held senior roles at global investment firms, including CSFB and BlackRock, with more than two decades of experience navigating institutional markets.
Upon closing, the board of directors of ReserveOne is expected to include Executive Chairman Reeve Collins, co-founder of Tether and CEO of M3-Brigade; Wilbur Ross, former U.S. Secretary of Commerce; Gabriel Abed, Chairman of the largest crypto exchange; Chinh Chu, Founder and Senior Managing Director of CC Capital, and John D’Agostino, Coinbase Head of Strategy – Institutional.
Jamie Leverton said that this announcement marks a pivotal moment for the digital asset ecosystem as a whole.
Jamie also said that by moving towards a public listing, ReserveOne was reinforcing its commitment to responsible innovation, financial inclusion, and the development of a more resilient, transparent market for digital assets.
Combined Company Highlights
As ReserveOne looks forward to securing and activating its assets, it is excited to work closely with its Strategic Partners: Galaxy Digital (AM & Markets), FalconX, Monarq Asset Management, and Kraken.
Coinbase will serve as the custodian for ReserveOne’s secured Bitcoin holdings and ReserveOne will be purpose-built for investors seeking professional access to the long-term potential of this emerging asset class among others.
M3-Brigade CEO Reeve Collins said that ReserveOne was being driven by the conviction that Bitcoin and digital assets will shape global finance. It also aims to lead with a strategic reserve, responsibly unlocking shareholder value and setting the standard for digital financial innovation as a public company.
