Joe McCann's Solana Treasury SPAC IPO plan ends

According to Blockworks, the plan of Solana Digital Asset Vault, led by Joe McCann, to go public through SPAC has been halted. The company originally planned to raise up to $1.5 billion through a SPAC merger with Gore Holdings X, with McCann serving as co-founder and CEO. According to informed sources, the reason for the cancellation of the current transaction has not been disclosed, and other listing paths may be sought in the future. Previously, McCann's hedge fund, Asymmetric, had LP disclose a loss of nearly 80% for the year. Last month, it was reported that the new Solana treasury company Accelerate plans to raise $1.5 billion in funding, with Joe McCann serving as CEO.