Crypto
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A Solana Spaces store that once existed in Miami (Joe Raedle/Getty Images)

New solana treasury entrant, Solmate, soars on rebrand

Solmate backers include the Solana Foundation, Ark Invest, and Pulsar Group.

Yaël Bizouati-Kennedy

The solana ecosystem has been shining this week with the launch of several solana treasuries. Solana, the sixth-largest crypto by market cap, crossed $250 yesterday for the first time since January, though the token’s price is roughly flat on the week.

On Thursday, Nasdaq-listed Brera Holdings, a multi-club sports holding company, announced it is rebranding as Solmate, a solana-based treasury and crypto infrastructure company, sending the stock up over 200% yesterday. Marco Santori, who was formerly chief legal officer for Kraken, will become its CEO.

The stock continued to rise early Friday before reversing course around 9:45 a.m. ET. The company raised $300 million via a PIPE deal, with backers including the Solana Foundation, Ark Invest, and Pulsar Group.

When asked about the launch’s timing, Santori told Sherwood News that “it’s always a good time to stack SOL.”

“I’d go back in time and start sooner if I could, but I’ll have to settle for today. Solana is the most performant and most used blockchain. I think developers are going to prefer it for a long time to come,” Santori said.

Earlier this week, Helius Medical announced it raised more than $500 million in a private placement deal to launch a solana treasury company. Pantera Capital and Summer Capital led the financing.

In other solana news:

  • Today, Grayscale launched the Grayscale CoinDesk Crypto 5 ETF, which provides exposure to solana, bitcoin, ether, XRP, and cardano. Zach Pandl, Grayscale’s head of research, dubbed solana “crypto’s financial bazaar” and told Sherwood, “Regulatory approval of diversified crypto ETPs, altcoin ETPs, and eventually staking in listed crypto investment products will drive more capital to the solana ecosystem.”

  • Solana treasury Forward Industries announced it launched a $4 billion at-the-market program to acquire more solana. The company is now the largest solana holder after acquiring 6.82 million solana this week. This represents 1.26% of the total supply, according to CoinGecko.

  • Finally, the second-largest solana holder, DeFi Development Corp., acquired 62,745 solana. The company now holds 1.95 million solana.

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Sage D. Young
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Hyperliquid is the “1,000 pound gorilla in the room” leading year-to-date market gains amidst conflict in the Middle East

While the crypto industry has shed $564.3 billion in 2026, Hyperliquid’s native token has bucked the downtrend and jumped 54.8% year-to-date.

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Yaël Bizouati-Kennedy
5h
Bitcoin tumbles as oil and gas prices spike and the market’s mood turns risk-off

Bitcoin ETFs reverted to outflows and bitcoin suffered $192 million in liquidations in the past 24 hours.

A Bitcoin ATM in Hong Kong...
crypto
Sage D. Young

Payward, parent company of crypto exchange Kraken, puts plans for IPO on hold

Payward, crypto exchange Kraken’s parent company, has paused its plans for an initial public offering until market conditions improve, according to a report from CoinDesk that cited two people with knowledge of the matter. 

Since the firm announced in November its preparation for an IPO of its common stock, the total market capitalization of the crypto industry has shed around $652.2 billion, from $3.2 trillion to $2.5 trillion as of Wednesday, data from CoinGecko shows. 

The news comes two weeks after Kraken received approval for a master account from the Federal Reserve Bank of Kansas City, allowing the crypto exchange to connect to the Fed’s payment infrastructure used by traditional banks and credit unions. 

Last year, Kraken raised $800 million at a $20 billion valuation from institutional investors such as Jane Street and Citadel Securities.

Payward, parent of crypto exchange Kraken, has put its IPO plans on hold

Payward, parent of crypto exchange Kraken, has put its IPO plans on hold

The news comes two weeks after Kraken received approval for a master account from the Federal Reserve Bank of Kansas City, allowing the crypto exchange to connect to the Fed’s payment infrastructure used by traditional banks and credit unions. 

Last year, Kraken raised $800 million at a $20 billion valuation from institutional investors such as Jane Street and Citadel Securities.

crypto
Sage D. Young

SEC and CFTC issue new guidance on how securities laws apply to crypto assets

On Tuesday, the US Securities and Exchange Commission, together with the Commodity Futures Trading Commission, issued an interpretation clarifying how federal securities law applies to crypto assets, a first step toward developing a clearer regulatory framework. 

The interpretive guidance introduces a token taxonomy for different types of cryptocurrencies, with SEC Chairman Paul S. Atkins adding that “most crypto assets are not themselves securities.”

Examples of a digital commodity, “a crypto asset that is intrinsically linked to and derives its value from the programmatic operation of a crypto system that is ‘functional,’” include:

The guidance also includes definitions of digital collectibles (such as NFTs), stablecoins, digital tools, and digital securities (such as tokenized real-world assets and stocks).

This is a monumental step in the mainstream adoption of the industry and clears a hurdle in how crypto can operate going forward, according to David Pakman, head of venture investments at CoinFund. “This will allow new token designs with the confidence that their existence does not require registration with the SEC, etc.,” Pakman told Sherwood News.

Despite the clarification efforts from the two organizations, the market capitalization of the crypto industry has dropped about 2% in the last 24 hours as each of the tokens mentioned in the guidance are trading lower in the period, data from CoinGecko shows.

The joint agency action also complements congressional efforts to turn a crypto market structure framework into law. With the goal of providing regulations on the offer and sale of digital commodities, the CLARITY Act passed the House of Representatives last year and is now sitting in the Senate.

Yaël Bizouati-Kennedy
3/18/26
Citi analysts cut 12-month bitcoin projection to $112,000 from $143,000

The analysts’ bear-case scenario is $57,537, based on “recessionary macro-factors, especially weak equity markets,” which could cause ETF flows to stall.

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