Accelerate Aims to Establish Major Solana Treasury with $1.51 Billion Fundraising

According to BlockBeats, Joe McCann, founder and CEO of the crypto hedge fund Asymmetric Financial, is set to become the CEO of a new Solana treasury company named Accelerate. The company plans to raise up to $1.51 billion through various financial mechanisms. This includes $800 million via a Private Investment in Public Equity (PIPE), $358.8 million through a Special Purpose Acquisition Company (SPAC), $250 million from convertible bonds, and $103.2 million from SPAC warrants.

If the fundraising efforts are successful, Accelerate intends to immediately establish a new Solana treasury, potentially becoming the largest SOL treasury management company in the market.