Since the previous Sqlana treasury vehicle collapsed badly, now Multicon Capital, Galaxy and Jump are attempting to fundraise for one They have a much smaller goal than the previous failed attempt: just a billion this time and $50m+ of that raise wouldn't be deployed (transaction costs to acquire shell co) They're trying to claim it's oversubscribed but they're still fundraising and only for a billion so I'd take that with a few large grains of salt Investors would buy in at 1.15 mNAV (substantially worse than the failed attempt a few weeks ago!), and will be 50% liquid when it goes live and 50% liquid 4 weeks after (also worse than the failed attempt) Meanwhile SOL is down 50% vs ETH over the last few months as the SBF locked tokens are getting dumped on the market by funds(Evan Van Ness 🧉)