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Binance News
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Solmate Shares Drop Over 98% After $300 Million Shift to Solana Treasury Strategy
Nasdaq-listed Solmate, formerly Brera Holdings, has fallen more than 98% in share price after completing a $300 million fundraising and repositioning itself as a Solana treasury company. According to ChainCatcher, the company holds about 2 million SOL, and its financial condition is highly dependent on SOL’s price and liquidity.
The report said SOL has declined by about 50% over the past year, increasing the company’s exposure to crypto market moves.
Separately, Solmate’s largest shareholder has sued the board, alleging disclosure violations and self-dealing.
The report said SOL has declined by about 50% over the past year, increasing the company’s exposure to crypto market moves.
Separately, Solmate’s largest shareholder has sued the board, alleging disclosure violations and self-dealing.
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