New Solana Treasury Company Accelerate Plans to Raise $1.5 Billion, Joe McCann to Become CEO

PANews reported on July 24 that according to Unchained, Joe McCann, founder of crypto hedge fund Asymmetric, will serve as the CEO of the newly established Solana treasury company Accelerate. The company plans to go public through a SPAC merger, aiming to raise $1.5 billion, including $800 million from PIPE financing and $358.8 million from the SPAC shell company. If the fundraising is successful, Accelerate is expected to become the largest SOL treasury company by holding 7.32 million SOL (currently valued at approximately $1.36 billion). Informed investors revealed that Accelerate's fundraising plan has been prepared for months, and the transaction is expected to be completed by the end of 2025.