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

ChainCatcher news, according to Blockworks, the plan for Solana digital asset treasury company led by Joe McCann to go public via SPAC 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 that the reason for the current cancellation of the deal has not been disclosed, and they may seek other paths to go public in the future. Previously, McCann's hedge fund Asymmetric had LPs report nearly 80% losses this year.

In previous news, the new Solana treasury company Accelerate plans to raise $1.5 billion, with Joe McCann set to serve as CEO.