Shares of Cathie Wood-backed Solmate collapse after rebranding and pivot to a Solana treasury strategy post-$300 million financing.
Solmate shares have lost over 98% of their value since completing a $300 million private financing round and rebranding from Brera Holdings. The company, backed by ARK Invest and the Solana Foundation, announced the shift to a Solana treasury strategy in September 2025.
Prior to the pivot, Solmate had raised capital from investors including Pulsar and RockawayX. The firm currently holds approximately 2 million SOL tokens, reflecting its new focus on the Solana ecosystem.
The steep decline follows the company’s strategic overhaul, though no immediate market reaction details were provided.