PANews, June 26 news, according to Cryptobriefing, Nasdaq-listed Solmate (formerly Brera Holdings) has seen its stock price plunge over 98% since completing a $300 million financing and transforming into a Solana treasury company. The company has received investments from institutions including ARK Invest, Pulsar Group, RockawayX, and the Solana Foundation, and currently holds about 2 million SOL, but SOL has declined by roughly 50% over the past year, leaving the company’s financial condition highly dependent on SOL’s price and liquidity.

Earlier on June 23, news reported that Solmate’s largest shareholder sued the board, alleging disclosure violations and self-dealing.