#SOLTreasuryFundraising 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 that Asymmetric’s liquid fund is down 80% so far this year. The broader crypto market is up by almost $600 billion year to date and bitcoin itself set an all-time high above $123,000 last week.

However, one investor in the deal, who requested anonymity, pushed back on a narrative on X that McCann could be looking at Accelerate as a type of escape hatch for his flailing fund. “My instinct is that all of this stuff has been in the works for quite some time. While it might seem coincidental, this fundraising has been happening for months behind the scenes,” the investor told Unchained.#Write2Earn