Crypto World News reports that, according to Bloomberg, the merger between cryptocurrency asset management firm ReserveOne and special purpose acquisition company M3-Brigade Acquisition V Corp. (MBAV) has been declared a failure.

Sources familiar with the matter revealed that the deal, valued at $1 billion, ultimately fell apart because at least two major investors in ReserveOne demanded to terminate the sale.
Investors believe that since the merger was announced nearly a year ago, the prices of Bitcoin and other tokens have plummeted significantly.
If ReserveOne were to go public now, its stock price would inevitably be below its net asset value, and combined with the transaction fees paid to bankers and sponsors, it would not be economically viable.