Bastion Trading Challenges SkyAI’s Proposed Tender Offer, Demands Immediate and Full Disclosure of SOL Sales and Board Reconstitution

Bastion Trading Challenges SkyAI’s Proposed Tender Offer, Demands Immediate and Full Disclosure of SOL Sales and Board Reconstitution

Questions Legitimacy of Incumbent Board Following Overwhelming Stockholder Withhold Vote; Calls for Independent Oversight and Materially Improved Tender Offer Terms

Bastion Trading Challenges SkyAI’s Proposed Tender Offer, Demands Immediate and Full Disclosure ...

Questions Legitimacy of Incumbent Board Following Overwhelming Stockholder Withhold Vote; Calls for Independent Oversight and Materially Improved Tender Offer Terms

Solana Treasury Firm SkyAI Sells Nearly 70% of SOL Holdings in Less Than a Month

SkyAI, a Nasdaq-listed cryptocurrency treasury company, has reduced its Solana holdings by approximately 70% in less than a month, prompting demands for greater transparency from one of its largest shareholders. The company disclosed that it held approximately 600,000 SOL in an October 13, 2026, filing with the US Securities and Exchange Commission, compared with more than 2 million SOL reported on September 14. The reduction represents at least…

Bastion challenges SkyAI's $201M buyback as SOL treasury falls 70%

Bastion Trading, which, with affiliates, owns about 9.99% of SkyAI (Nasdaq: SKYA), challenged the company’s proposed $201 million buyback on October 14. SkyAI’s Solana holdings had fallen roughly 70% in under a month, and Bastion wants to know exactly when and how the tokens were sold. The clash could resonate beyond SkyAI. If crypto treasury companies face...