SkyAI Faces Shareholder Revolt After Selling 70% of Solana Treasury

Has SkyAI lost 70% of its Solana treasury?

Yes. SkyAI reported holding more than 2 million SOL on September 14, 2026, but disclosed approximately 600,000 SOL remaining in an October 13 SEC filing. The reduction reflects substantial treasury asset sales rather than a reported security breach.

Orbitrum Investor Impact

Why does the treasury reduction matter for SkyAI investors?

Selling most of its SOL holdings reduces SkyAI's direct exposure to Solana and converts treasury assets into cash intended primarily for shareholder buybacks. This changes the company's asset composition and potentially its future investment value, while the proceeds and execution prices of the sales remain insufficiently explained in the reviewed disclosures.

What is Bastion Trading demanding from SkyAI?

Bastion wants a full accounting of SOL sales, independent board oversight and a tender price of at least $3.50 instead of $3.00. It also wants strategic advisor warrants excluded from the buyback and certain participation conditions removed.

Has SkyAI's $201 million tender offer started?

Not according to the verified October 13 filing, which described the offer as not yet commenced. SkyAI targeted October 15 for its launch, with purchases of up to 95% of each eligible security class, subject to conditions including at least 50% participation in each class and SOL remaining above $100.

What could the dispute mean for SkyAI stock?

For Nasdaq-listed SKYA shareholders, the dispute creates uncertainty over the proposed cash exit price, the company's remaining net asset value and future governance. Bastion's objections could increase pressure to revise the offer, but no higher price or board restructuring has been agreed.

What should SkyAI investors watch next?

The next key development is whether SkyAI formally launches its tender offer, publishes definitive terms and explains its SOL disposals. Investors also need to see whether the board addresses Bastion's demands and whether the offer's participation and SOL-price conditions can be satisfied.