The former Brera Holdings now holds about 2 million SOL, while its largest shareholder has sued the board over alleged disclosure violations and self-dealing.
Nasdaq-listed Solmate, formerly Brera Holdings, has dropped more than 98% after completing a $300 million financing and repositioning itself as a Solana treasury company. The company now holds about 2 million SOL, tying its balance sheet more closely to the token’s price at a time when SOL is down about 50% over the past year. The shift has also been accompanied by governance pressure: on June 23, Solmate’s largest shareholder sued the board over alleged disclosure violations and self-dealing, Cryptobriefing reported.