The SPAC listing plan of the Solana treasury company led by Joe McCann has been terminated.

PANews reported on August 8 that according to Blockworks, the SPAC listing plan of the Solana digital asset treasury company led by Joe McCann has been halted. The company originally planned to raise up to $1.5 billion through a merger with Gores Holdings X's SPAC, with McCann serving as co-founder and CEO. Sources say the reason for the current cancellation of the deal has not been disclosed, and they may seek other listing paths in the future. Previously, McCann's hedge fund Asymmetric had LPs report a loss of nearly 80% this year.

Last month, it was reported that the new Solana treasury company Accelerate plans to raise $1.5 billion, with Joe McCann set to serve as CEO.