According to Mars Finance, on August 8, sources said that the SPAC deal for Solana financial tool led by Joe McCann has been canceled. The reason for the failure of this deal has not yet been publicly disclosed. Two weeks ago, a limited partner in McCann's hedge fund Asymmetric posted on X that the fund has fallen nearly 80% this year. On July 24, news broke that Joe McCann, founder and CEO of the crypto hedge fund Asymmetric Financial, would take over as CEO of a new Solana treasury company named Accelerate, which plans to raise up to $1.51 billion, including $800 million through PIPE, $358.8 million through SPAC, and $250 million through convertible bonds, and sell $103.2 million in the form of SPAC warrants. If this financing is successful, Accelerate will immediately begin establishing a new Solana treasury and could quickly become the largest SOL treasury management company in the market.