Latest news with #ReeveCollins
Yahoo
28-05-2025
- Business
- Yahoo
M3-Brigade Acquisition V closes transaction
M3-Brigade Acquisition V (MBAV) announced the closing of a transaction in which MI7 Sponsor, a Delaware limited liability company and a CC Capital affiliate, along with Reeve Collins, purchased 7,187,500 Class B ordinary shares and 5,043,750 private placement warrants of M3-Brigade owned by M3-Brigade Sponsor V LLC, a Delaware limited liability company, for an aggregate purchase price of $6,467,500. Additionally, the New Sponsor expects to purchase 3,293,750 additional private placement warrants of M3-Brigade from Cantor Fitzgerald & Co. Following the transactions, M3-Brigade intends to seek a business combination target in industries relating to digital assets. The company plans to change its name to CCRC Digital Assets. In connection with the transactions, Tether's co-founder Reeve Collins was named chief executive officer and CC Capital's Chinh Chu was named president. In addition, M3-Brigade appointed Thomas L. Fairfield and Edward Murphy as new members of the board of directors. Collins is a long-time innovator in the digital asset space, best known for co-founding and serving as the founding chief executive officer of Tether, the first and most widely adopted stablecoin. Fairfield is chief financial and operating officer at byNordic Acquisition. He has provided strategic business consulting services through Cambio Group, which he founded in 2018. Murphy is a veteran finance executive with 30+ years of experience across fixed-income and real estate markets. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Disclaimer & DisclosureReport an Issue Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
27-05-2025
- Business
- Associated Press
Tether Co-Founder Reeve Collins and CC Capital Affiliate Purchase Sponsor Interests in SPAC to Acquire Digital Assets
Digital Assets Industry Veteran Reeve Collins to Serve as Chief Executive Officer NEW YORK, May 27, 2025 /PRNewswire/ -- M3-Brigade Acquisition V Corp., a Cayman Islands exempted company (NASDAQ: MBAVU, MBAV, MBAVW) ('M3-Brigade'), announced the closing of a transaction in which MI7 Sponsor, LLC, a Delaware limited liability company and a CC Capital affiliate, along with Reeve Collins ('New Sponsor'), purchased 7,187,500 Class B ordinary shares and 5,043,750 private placement warrants of M3-Brigade owned by M3-Brigade Sponsor V LLC, a Delaware limited liability company ('Original Sponsor'), for an aggregate purchase price of $6,467,500. Additionally, the New Sponsor expects to purchase 3,293,750 additional private placement warrants of M3-Brigade from Cantor Fitzgerald & Co. Following the transactions, M3-Brigade intends to seek a business combination target in industries relating to digital assets. The company plans to change its name to CCRC Digital Assets Corp. Leadership In connection with the transactions, Tether's co-founder Reeve Collins was named chief executive officer and CC Capital's Chinh Chu was named president. In addition, M3-Brigade appointed Thomas L. Fairfield and Edward Murphy as new members of the board of directors. Mr. Collins is a long-time innovator in the digital asset space, best known for co-founding and serving as the founding chief executive officer of Tether (USDT), the first and most widely adopted stablecoin. He also co-founded BLOCKv, the original programmable NFT platform, that introduced dynamic digital assets to the world. Today, through multiple ventures he continues to build foundational Web3 infrastructure, focused on expanding how people and institutions interact with digital value, ownership, and programmable money. Mr. Chu is the founder and senior managing director of CC Capital. In this capacity, he has spearheaded the creation of five SPACs since 2016. Prior to founding CC Capital, Chinh was a senior managing director, the Co-Head of Private Equity, and a member of the executive committee at Blackstone, where he spent 25 years in senior leadership roles. Mr. Fairfield is chief financial and operating officer at byNordic Acquisition Corp. BYNOW (U.S.: OTC). He has provided strategic business consulting services through Cambio Group, which he founded in 2018. Mr. Murphy is a veteran finance executive with 30+ years of experience across fixed-income and real estate markets. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. About CC Capital CC Capital Partners is a private investment firm based in New York, NY founded in late 2015 by Chinh Chu with a focus on investing in and operating high-quality businesses for the long term. The firm evaluates investments anticipating a hold period well beyond that of a typical private equity firm and funds its investments through a variety of permanent capital sources. CC Capital frequently partners with highly seasoned executives, managers, and owners seeking to create significant value post-acquisition. More information on CC Capital can be found at M3-Brigade Acquisition V Corp. M3-Brigade is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Forward-Looking Statements This press release includes 'forward-looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Certain of these forward-looking statements can be identified by the use of words such as 'believes,' 'expects,' 'anticipates,' 'intends,' 'plans,' 'estimates,' 'assumes,' 'may,' 'should,' 'will,' 'would,' 'will be' 'seeks,' or other similar expressions. These forward-looking statements include, but are not limited to, statements regarding business combination and similar transactions, and the timing of, and expectations in relation to, any of the foregoing matters. These statements are based on current expectations on the date of this press release and involve a number of risks and uncertainties that may cause actual results to differ significantly. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of M3-Brigade. Readers are cautioned not to put undue reliance on forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors section of M3-Brigade's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the 'SEC'). M3-Brigade's securities filings can be accessed on the EDGAR section of the SEC's website at Except as expressly required by applicable securities law, M3-Brigade disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Media Contact: Jon Keehner, Kate Thompson, and Erik Carlson Joele Frank, Wilkinson Brimmer Katcher +1 (212) 355-4449 [email protected] Eric Andrus / Andrew Frank KARV +1 (212) 333 0275 [email protected] View original content: SOURCE CC Capital
Yahoo
27-05-2025
- Business
- Yahoo
Tether Co-Founder Reeve Collins and CC Capital Affiliate Purchase Sponsor Interests in SPAC to Acquire Digital Assets
Digital Assets Industry Veteran Reeve Collins to Serve as Chief Executive Officer NEW YORK, May 27, 2025 /PRNewswire/ -- M3-Brigade Acquisition V Corp., a Cayman Islands exempted company (NASDAQ: MBAVU, MBAV, MBAVW) ("M3-Brigade"), announced the closing of a transaction in which MI7 Sponsor, LLC, a Delaware limited liability company and a CC Capital affiliate, along with Reeve Collins ("New Sponsor"), purchased 7,187,500 Class B ordinary shares and 5,043,750 private placement warrants of M3-Brigade owned by M3-Brigade Sponsor V LLC, a Delaware limited liability company ("Original Sponsor"), for an aggregate purchase price of $6,467,500. Additionally, the New Sponsor expects to purchase 3,293,750 additional private placement warrants of M3-Brigade from Cantor Fitzgerald & Co. Following the transactions, M3-Brigade intends to seek a business combination target in industries relating to digital assets. The company plans to change its name to CCRC Digital Assets Corp. Leadership In connection with the transactions, Tether's co-founder Reeve Collins was named chief executive officer and CC Capital's Chinh Chu was named president. In addition, M3-Brigade appointed Thomas L. Fairfield and Edward Murphy as new members of the board of directors. Mr. Collins is a long-time innovator in the digital asset space, best known for co-founding and serving as the founding chief executive officer of Tether (USDT), the first and most widely adopted stablecoin. He also co-founded BLOCKv, the original programmable NFT platform, that introduced dynamic digital assets to the world. Today, through multiple ventures he continues to build foundational Web3 infrastructure, focused on expanding how people and institutions interact with digital value, ownership, and programmable money. Mr. Chu is the founder and senior managing director of CC Capital. In this capacity, he has spearheaded the creation of five SPACs since 2016. Prior to founding CC Capital, Chinh was a senior managing director, the Co-Head of Private Equity, and a member of the executive committee at Blackstone, where he spent 25 years in senior leadership roles. Mr. Fairfield is chief financial and operating officer at byNordic Acquisition Corp. BYNOW (U.S.: OTC). He has provided strategic business consulting services through Cambio Group, which he founded in 2018. Mr. Murphy is a veteran finance executive with 30+ years of experience across fixed-income and real estate markets. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. About CC Capital CC Capital Partners is a private investment firm based in New York, NY founded in late 2015 by Chinh Chu with a focus on investing in and operating high-quality businesses for the long term. The firm evaluates investments anticipating a hold period well beyond that of a typical private equity firm and funds its investments through a variety of permanent capital sources. CC Capital frequently partners with highly seasoned executives, managers, and owners seeking to create significant value post-acquisition. More information on CC Capital can be found at M3-Brigade Acquisition V Corp. M3-Brigade is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Forward-Looking Statements This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Certain of these forward-looking statements can be identified by the use of words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "assumes," "may," "should," "will," "would," "will be" "seeks," or other similar expressions. These forward-looking statements include, but are not limited to, statements regarding business combination and similar transactions, and the timing of, and expectations in relation to, any of the foregoing matters. These statements are based on current expectations on the date of this press release and involve a number of risks and uncertainties that may cause actual results to differ significantly. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of M3-Brigade. Readers are cautioned not to put undue reliance on forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Risk Factors section of M3-Brigade's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC"). M3-Brigade's securities filings can be accessed on the EDGAR section of the SEC's website at Except as expressly required by applicable securities law, M3-Brigade disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Media Contact:Jon Keehner, Kate Thompson, and Erik CarlsonJoele Frank, Wilkinson Brimmer Katcher+1 (212) 355-4449CC-Capital-JF@ Eric Andrus / Andrew FrankKARV+1 (212) 333 0275 CC-Capital@ View original content: SOURCE CC Capital Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
18-04-2025
- Business
- Associated Press
Pi Protocol Selects Solana as Native Blockchain to Enable Cost-Efficient Stablecoin Adoption
DUBAI, UNITED ARAB EMIRATES / ACCESS Newswire / April 18, 2025 / Pi Protocol, the innovative new stablecoin venture led by Tether co-founder Reeve Collins, today announced the adoption of Solana (SOL) as its native blockchain network. This strategic decision positions Pi Protocol to leverage Solana's superior transaction speeds and lower costs for its USPi network token, while maintaining Ethereum (ETH) compatibility for its USP stablecoin. Pi Protocol features a unique three-token architecture: the USP stablecoin (pegged to the US dollar), the USI yield token, and the USPi governance token. The USP stablecoin is backed by tokenised real-world assets (RWAs) including money market funds, US Treasuries, and insurance assets. The USI yield token captures and maximises returns generated from the underlying collateralised assets and the USPi token governs the protocol. 'Solana provides the ideal infrastructure for programmable capital,' said Bundeep Singh Rangar, CEO of Pi Protocol. 'We can give users immediate access to yield as well as our USP stablecoin backed by institutional-grade real-world assets. By extending USP across both ETH and SOL networks, we can tap into Ethereum's established ecosystem and liquidity, as well as Solana's performance advantages.' Pi Protocol's USPi governance token and USI yield token will be built on Solana, while the USP stablecoin will operate across both Ethereum and Solana networks via a proprietary in-house ETH-SOL bridge. This software will contain custom smart contracts and middleware functionality, ensuring seamless integration with enhanced compliance and cross-chain fund visibility. This architecture creates a foundation for future expansion to additional blockchains beyond Ethereum and Solana such as Cardano, Polkadot, Stellar, Sui and The Open Network (TON). 'Stablecoins are no longer just a dollar-pegged utility, they're evolving into dynamic assets that reward users directly, leveraging DeFi and on-chain RWAs to deliver value that was unimaginable a decade ago,' said Reeve Collins, co-founder of Pi Protocol and co-founder of Tether. 'With Solana's infrastructure, we're delivering a decentralised stablecoin ecosystem that combines the security of real-world asset backing with the performance needed for mainstream financial applications.' The choice to build on Solana aligns with broader market trends toward faster, more cost-efficient blockchain infrastructure. Solana currently processes nearly 100 million transactions daily at an average cost of just $0.00025 per transaction, compared to Ethereum's higher fees exceeding one dollar per transaction. Solana can process more than 2,600 transactions per second (TPS), while Ethereum currently handles around 15 TPS. This speed makes Solana one of the fastest blockchain networks, allowing it to offer lower fees and better scalability. Ethereum remains the dominant stablecoin network, however, with approximately $122 billion in circulation (over half the $233 billion total market). Launched in 2020, five years after Ethereum, Solana has emerged as the third most popular stablecoin network with roughly $13 billion, according to Pi Protocol's aims to position USP within the top blockchain ecosystems for decentralised finance (DeFi) activities. Currently, the total value locked (TVL) in DeFi exceeds $90 billion, with RWA representing $20 billion. Ethereum leads with $55 billion in DeFi activity, while Solana's $7 billion places it third behind Bitcoin's $8 billion. For more information about Pi Protocol and its USP stablecoin, visit About Pi Protocol Pi Protocol is a decentralised finance (DeFi) infrastructure to collateralise and monetise blockchain based yield-bearing real world assets (RWA) via issuance of USP stablecoins pegged to the U.S. dollar. Its governance will be driven and conducted by holders of its USPi network token. For more information, please connect at: [email protected] ------------------------------------------------------------------------------------------------------------------------------------ DISCLAIMER: Crypto assets are unregulated investment products prone to sudden and substantial value fluctuations, presenting a high risk of total loss of the invested capital. The information presented herein is not intended as a financial promotion. This material has been produced for circulation to a limited number of professional investors and journalists. If you are unsure whether this asset is suitable for your individual circumstances, it is highly recommended to obtain independent financial and legal advice. SOURCE: PI TECHNOLOGIES, LTD press release
Bloomberg
18-02-2025
- Business
- Bloomberg
Tether Co-Founder Is Working on Yield-Bearing Stablecoin Rival
One of the original founders of Tether is backing a new stablecoin project — one that will compete with the world's most traded cryptocurrency. Reeve Collins, who along with Brock Pierce and Craig Sellars launched precursor to the original stablecoin, served as Tether's first chief executive officer from from 2013 to 2015. He is chairman and co-founder of Pi Protocol. The so-called decentralized project is expected to debut on both the Ethereum and Solana blockchains in the second half of this year or sooner. No financial terms were disclosed.
