Zora

06/23 01:30

Solana treasury firm Solmate's largest stakeholder

#World Cup Predictions: 100,000 USDT Daily #HTX Invites You to Share 600K USDT in Gift Packs #BTC Prophet: 20-Day 380 Million HTX Challenge Solana treasury firm Solmate's largest stakeholder sues board for self-dealing, fiduciary breachesSolmate Infrastructure’s largest external shareholder has accused the Solana DAT’s board of self-dealing, including selling shares while other investors were locked up and signing preferential advisory deals. Board members Ron Sade and Keren Maimon also personally bought about 2.298 million Class B shares at $4.97, diluting shareholders ~20%, in an allegedly illegal transaction. Solmate has previously sued RockawayX and related parties after a planned merger fell through.The largest outside shareholder of Solana treasury firm Solmate Infrastructure (Nasdaq: SLMT) has filed a lawsuit in the Supreme Court of the State of New York against the company’s current officers and directors, accusing them of a breach of fiduciary duty and other misrepresentations. RBCH, the litigant affiliated with Viktor Fischer, the founder and CEO of RockawayX, holds approximately 22.74% of the digital asset treasury firm’s Ireland-based corporate parent, Brera Holdings, after leading the DAT’s $300 million PIPE transaction in September 2025 with a $50 million commitment. "Solmate is really underperforming," Fischer told The Block in an interview. "It's trading at a 50% discount to NAV. The problem is that it's mismanaged and the current board is self-dealing." The lawsuit comes just weeks after Forward, the largest Solana digital asset treasury firm, offered to acquire Brera at a 30% premium in an all-stock transaction. That bid was rejected by Brera’s board. Solmate, which has about 2 million SOL on its books, is among the worst-performing SOL DATs, down roughly 78% year-to-date and trading at a steep discount to NAV. This comes as SOL itself is down about 50%.

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