ChainCatcher message, according to a report by Cryptobriefing: Nasdaq-listed company Solmate (formerly Brera Holdings), after completing a $300 million financing and transforming into a Solana treasury company, has seen its stock price plunge by more than 98%. The company previously received investments from institutions including ARK Invest, Pulsar Group, RockawayX, and the Solana Foundation. It currently holds about 2 million SOL, but SOL has fallen by about 50% over the past year, leaving the company’s financial condition highly dependent on the SOL price and liquidity.

Earlier, news emerged that Solmate’s largest shareholder sued the board of directors, accusing it of violating disclosure requirements and engaging in self-dealing.