BlockBeats reported that the Solana SPAC transaction led by Joe McCann was cancelled without disclosed reasons, while his new firm Accelerate aims to raise $1.51 billion amid significant hedge fund performance drops.
On August 8, BlockBeats reported that the Solana SPAC transaction led by Joe McCann has been cancelled with no reasons disclosed. McCann’s hedge fund Asymmetric experienced an 80% performance drop this year. In July, it was announced that McCann would lead a new Solana treasury firm, Accelerate, targeting a $1.51 billion raise through multiple funding channels.