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% of its value year to date

Accelerate, a new Solana treasury initiative whose CEO is Joe McCann (also CEO and founder of Asymmetric), seeks $1.51 billion to acquire 7.32 million SOL tokens.

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.

This acquisition would make Accelerate the largest private Solana treasury outside the Solana Foundation. The main goals of this initiative are to improve on-chain liquidity, stabilize the SOL market, influence governance, and help strengthen protocol development.

The large boost in funding could …

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