TechFlow news, July 24 — According to Unchained, Joe McCann, founder and CEO of crypto hedge fund Asymmetric Financial, is set to become the CEO of Accelerate, a newly formed Solana-based crypto treasury company. According to investment pitch documents, Accelerate plans to go public via SPAC with a target raise of up to $1.51 billion, primarily intended for purchasing SOL tokens. If successful, Accelerate would immediately become the largest SOL treasury firm in the market, surpassing Upexi, which currently holds 1.9 million SOL (approximately $381 million). The announcement comes shortly after McCann revealed the closure of Asymmetric’s liquidity fund, which reportedly declined by 80% this year, while the broader crypto market rose during the same period.
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