Solana Treasury Company Accelerate Program Raises $1.5 Billion

On July 24, it was reported that Accelerate, a new Solana-based crypto treasury company led by Joe McCann, founder and CEO of Asymmetric Financial, plans to go public through the special purpose acquisition company (SPAC) GoresXHolding, aiming to raise up to $1.5 billion. The company intends to raise $800 million through private investment in public equity (PIPE), $358.8 million from the SPAC, $250 million via convertible debt, and $103.2 million through the sale of SPAC warrants. If the fundraising is successful, Accelerate will become the largest Solana treasury company in the market. However, this figure may change as other major Solana treasury companies, such as DeFi Development Corporation (DFDV) and Sol Strategies (HODL), increase their token holdings.