BlockBeats News, June 18th, the merger deal between cryptocurrency asset management company ReserveOne and Special Purpose Acquisition Company (SPAC) M3-Brigade Acquisition V Corp. (MBAV) has been declared a failure. Insiders revealed that due to at least two major investors of ReserveOne requesting to terminate the sale, this $1 billion deal ultimately fell through.

Investors believed that since the announcement of the merger almost a year ago, the prices of Bitcoin and other tokens have plummeted significantly. If ReserveOne were to go public at this time, its stock price would certainly be below the net asset value. Coupled with the transaction fees to be paid to bankers and sponsors, it was deemed uneconomical.