#BTCProbes60KKeySupportLevel

Cathie Wood-Backed Solmate Shares Plunge Over 98%

Solmate shares have plunged more than 98% since the company completed a $300 million funding round and shifted its business strategy to become a Solana-based treasury company.
The company, previously known as Brera Holdings, rebranded as Solmate in September 2025. Along with the identity change, Solmate announced a new strategy focused on accumulating Solana (SOL) assets as part of the company's treasury.
To support this transformation, Solmate successfully raised $300 million in private funding from several prominent investors, including Cathie Wood's ARK Invest, Pulsar, RockawayX, and the Solana Foundation.
Despite securing institutional investor support and holding approximately 2 million SOL on its balance sheet, Solmate's stock performance has come under severe pressure. The company's share price has fallen more than 98% since the new strategy was announced.
This decline reflects the high volatility that public companies can face when adopting a crypto-asset-based treasury strategy. In addition to being affected by SOL's price movements, the company's valuation is also heavily dependent on investor sentiment toward the digital asset sector as a whole.
This phenomenon shows that holding large amounts of crypto assets does not always support a company's stock price. Investors still consider fundamental business factors, revenue prospects, and market conditions before valuing issuers that adopt a crypto treasury strategy.