Crypto
Solana Cryptocurrency Affiliated Storefront
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.

More Crypto

See all Crypto
Yaël Bizouati-Kennedy
19h
The second half of the year might be more auspicious for bitcoin

“Winter is over. Welcome back to crypto Spring,” one analyst declared.

Bitcoin
Yaël Bizouati-Kennedy
6/11/26
Investors slice $2 billion out of bitcoin ETFs so far in June

The rate of outflows puts the funds on track to far surpass May’s losses.

bitcoin cake
$389M
Sage D. Young

US Attorney David Metcalf announced Thursday the arrests of Ruslan Igorevich Tkachuk and Alexander Vladimirovich Ledenev, alleged senior members of AudiA6, a cryptocurrency money-laundering service believed to be responsible for laundering over $389 million.

The arrests coincided with a coordinated international takedown of AudiA6 and its infrastructure, involving the search of three properties, the seizure of servers and domains connected to the organization, as well as freezing cryptocurrency assets, according to a Department of Justice press release.

Tkachuk and Ledenev were “charged by criminal complaint with one count of conspiracy to launder monetary instruments and one count of sting money laundering,” the DOJ said. If convicted, they face a maximum possible sentence of 20 years of incarceration.

Per the criminal complaint, AudiA6 offered services to conceal the origin of cryptocurrency linked to criminal activity, charging fees of up to 5% of the amount laundered.

The two defendants are in custody of Republic of Georgia authorities, and the US Attorney’s Office aims to seek their extradition to the Eastern District of Pennsylvania.

crypto
Sage D. Young

Solana shoves all in on poker with new partnership

If you’ve got money locked up on-chain and an itch to gamble with it in a new way, has the World Series of Poker got good news for you. The WSOP announced it will integrate solana’s blockchain technology into the tournament through crypto payments firm MoonPay.

At its big summer event, players will have the option to buy into tournaments using crypto directly for the first time. In the WSOP’s Bahamas event in December, winners will be able to receive settlements in stablecoins on solana, reducing friction with international settlements.

“Solana’s ecosystem, like the WSOP, constantly challenges conventions and remains laser-focused on the consumer experience,” WSOP CEO Ty Stewart said in a statement. “Solana’s speed and efficiency mirror the fast-paced energy of our tournaments, and we are excited to showcase their technology to our global audience.”

The price of solana dipped slightly today, but has dropped more than 48% in 2026, data from CoinMarketCap shows.

Solana has been a popular network, in part from meme coin trading over the past two years, involving viral animal sensations as well as political figures such as President Donald Trump and first lady Melania Trump as well as Argentine President Javier Milei.

Yaël Bizouati-Kennedy
6/10/26
Half of the bitcoin supply in circulation is underwater for the first time since 2022

A silver lining to the statistic may be that it’s a level that has historically aligned with cycle bottoms, and that some now view the asset as cheap.

Bitcoin sign

Latest Stories

Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.
©2026 Sherwood Media, LLC