The New Billion Dollar SPAC Deal For Solana Accumulation

There’s a new SPAC deal on Wall Street raising more than a billion dollars. And they’re planning to use it to buy Solana.

What’s happening:

• Gores Holdings X (NASDAQ: GTEN) has entered into a business combination agreement with Accelerate to accumulate Solana to hold directly as an asset
  

By the numbers:‍

• Gores Holdings X has approximately $358.8M USD in cash that was raised in their initial listing on the Nasdaq
  
• Accelerate has publicly stated they plan to raise $800M in an equity financing round concurrently with the business combination with Gores Holdings X
  

Why it matters:‍

• This is the first time ever that there has been a large scale SPAC deal on Wall Street focused on Solana
  

Going deeper:‍

• Accelerate is led by Joe McCann who is the founder of prominent crypto fund Asymmetric Financial and was also an early investor in Solana
  
• Solana has continued to make waves on Wall Street, with DeFi Development Corp (NASDAQ: DFDV) just recently completing a significant purchase of 153,225 Solana tokens to hold directly as an asset

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