Solmate, a Solana treasury firm formerly known as Brera Holdings, said its fight with a large shareholder began after it rejected a $200 million deal to buy RockawayX, a crypto investment firm led by Viktor Fischer.
The company said in a June 24 thread on X that it is trying to protect shareholders from what it called a "fraudulent campaign" by Fischer.
- The statement comes days after RBCH, a large Solmate shareholder tied to Fischer, sued Solmate's board and officers over alleged self-dealing, shareholder oppression and breach of fiduciary duty.
Solmate said Fischer, through RockawayX, raised $50 million from investors and invested in Solmate while trying to sell RockawayX to the company for about $200 million.
According to Solmate, that $200 million valuation was based on misleading financial statements provided to Brera Holdings.
Solmate
- The claims haven't been tested in court.
Solmate argues the failed acquisition turned into a wider attack that hurt market perception and contributed to what it called a discount in the company's valuation.
The dispute is now moving on two tracks. RBCH has accused Solmate directors of using investor money to enrich insiders, while Solmate says Fischer and RockawayX tried to exploit the company after the board walked away from the acquisition.
Solmate said it will pursue available remedies and remains focused on building the business.
- Brera Holdings pivoted into crypto strategy in September 2025 through a $300 million PIPE backed by investors including ARK Invest, RockawayX, Pulsar Group and the Solana Foundation.