Solana Treasury Company Led By Joe McCann Targets $1.5 Billion Fundraise

Solana Treasury Company Led By Joe McCann Targets $1.5 Billion Fundraise

Joe McCann, the founder and CEO of crypto hedge fund Asymmetric Financial, is set to become the CEO of a new Solana (SOL) crypto treasury company called Accelerate according to pitch documents seen by Unchained.  The firm intends to go public via a SPAC with the blank check vehicle Gores X Holding.  For McCann, news of this new venture comes at an awkward time, as he has been the talk of the crypto industry over the last day because of reports t…

Largest Solana treasury company falls below 1X mNAV

As the bitcoin (BTC) treasury company mania has deflated from its May 12 peak, altcoin treasury stocks suffered even worse. Already, the largest Solana (SOL) treasury company has fallen below the sacrosanct 1X multiple-to-net asset value or “mNAV.” In other words, investors are willing to pay less for shares of the company than the value of that company’s SOL holdings. Upexi, as of publication time, has a market capitalization of $330 million. T…

Joe McCann's Accelerate Announces $1.51 Billion Solana Treasury Fund

Funding sources include $800 million via Private Investment in Public Equity (PIPE), $358.8 million from the SPAC merger with Gores Holdings X, $250 million in convertible bonds, and $103.2 million through SPAC warrants Main goals of this initiative are to improve on-chain liquidity, stabilize the SOL market, influence governance, and strengthen protocol development Asymmetric Financial (McCann’s previous fund) reportedly lost around 78% to 80% …

How Solana Is Evolving to Power Internet Capital Markets

Key Solana builders have united around a roadmap in an attempt to cement the network as the home for internet capital markets.

Accelerate Unveils $1.51 Billion Fund To Build Largest Solana Treasury - FinanceFeeds

Accelerate, a newly announced investment firm focused on the Solana blockchain, has revealed plans to raise $1.51 billion with the goal of becoming the largest Solana (SOL) treasury in the ecosystem. The firm aims to use the majority of this capital to acquire more than 7.3 million SOL tokens, a move that could significantly impact Solana’s token economics and governance landscape. The fundraising strategy includes a diverse mix of capital sourc…

Solana Hits 60M CU Upgrade as McCann Leads $1.5B SOL Bid

Solana has activated a 60M CU upgrade during Epoch 822 to increase speed and scale. Joe McCann is leading a $1.5B plan to buy 7.32M SOL and launch a new treasury firm. If completed, the purchase would surpass Upexi and reshape Solana’s treasury landscape. Solana has activated a major block size upgrade to 60 million compute units, aligning with a $1.5 billion treasury fund led by Joe McCann. The upgrade, activated at slot 355,104,000 during Main…