Crypto asset management firm ReserveOne and MBAV terminate $1 billion merger

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BlockBeats message, June 19—According to Bloomberg, the merger between the cryptocurrency asset management company ReserveOne and the special purpose acquisition company (SPAC) M3-Brigade Acquisition V Corp. (MBAV) has been declared a failure.

Investors believe that, since the merger was announced nearly a year ago, the price of Bitcoin has fallen significantly. If it were to be listed now, its share price would inevitably be below net asset value, and in addition to the transaction costs that would need to be paid to bankers and sponsors, it would not be economically worthwhile.

BTC-2.89%
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