Wilbur Ross, former U.S. Secretary of Commerce, is expected to join ReserveOne’s board upon the successful closing of its merger with M3-Brigade Acquisition V Corp to go public

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July 8 (Reuters) - ReserveOne, a new crypto venture with ties to industry veterans and a former U.S. commerce secretary, will list on the Nasdaq through a merger with blank-check firm M3-Brigade Acquisition V Corp (MBAV.O), opens new tab and is expected to raise more than $1 billion.

Sebastian Bea, a former executive at asset managers BlackRock (BLK.N), opens new tab and Coinbase Asset Management (COIN.O), opens new tab , will serve as ReserveOne's president and head of investment. Its board will be chaired by stablecoin giant Tether's co-founder Reeve Collins and will include former Blackstone (BX.N), opens new tab dealmaker Chinh Chu and Wilbur Ross, the Secretary of Commerce in the first Trump administration.

Upon closing, ReserveOne's board of directors 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; and John D'Agostino, Head of Strategy at Coinbase.