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SKYAI is a data infrastructure for large language models (LLMs) that integrates blockchain data with AI agents using an extended Model Context Protocol (MCP). It enables scalable, real-time access to multi-chain data for builders, agents, and data providers.
SkyAI Major Shareholder Bastion Trading Demands Board Accountability and Disclosure of SOL Liquidation Details
Bastion Trading, a major shareholder holding approximately 9.99% of SkyAI (Nasdaq: SKYA), has issued a statement demanding that Executive Chairman Paul K. Danner III and several directors publicly explain the decision-making process behind the liquidation of the company's entire SOL reserve and the approval of the cash tender offer, and calling for a higher offer price and stronger disclosure of conflicts of interest. Bastion Trading noted that SkyAI launched its tender offer on October 16, 2026, but failed to adequately address its previously raised corporate governance concerns; just one month earlier, the company had still stated that it held more than 2 million SOL and reaffirmed its Solana digital asset treasury (DAT) strategy.Bastion Trading demands that the tender offer price be raised from $3 per share to at least $3.5 per share, and that the maximum acquisition ratio of pre-funded warrants be increased from 95% to 100%; it also requires that strategic advisor warrants be excluded from the scope of the offer, that the securities and potential gains held by directors, officers, and related parties be disclosed, and that information including the SOL sale transactions, the company's balance sheet, and the basis for the tender offer pricing be published. The firm also stated that if directors cannot demonstrate that they fulfilled their independent oversight duties, they should resign voluntarily; otherwise, a special shareholders' meeting should be convened to let shareholders decide the composition of the board. The above content represents demands unilaterally raised by Bastion Trading, and the relevant response from SkyAI's board has not been reflected in the provided materials. (Globenewswire)
Solana treasury company SkyAI shareholder seeks to veto all directors, company in governance crisis
Odaily News - Bastion Trading Limited, a shareholder holding 9.99% of Solana treasury company SkyAI, stated in an SEC filing that it plans to vote against all five current directors at the annual shareholders' meeting on September 18. Bastion expressed deep concerns over the company's amendments to its charter that weaken shareholder rights, the board's implementation of a poison pill without shareholder vote, and related-party transactions. Independent director Annemarie Tierney resigned in December 2025, having previously raised issues regarding potential conflicts of interest and related-party transactions with management. SkyAI, formerly Sharps Technology, established its Solana treasury in August 2025 through a PIPE financing round raising over $400 million. The company currently holds approximately 2 million SOL, with a current market value of around $59 million. Its stock price has declined approximately 86% over the past year.
SkyAI Major Shareholder Bastion Trading Demands Board Accountability and Disclosure of SOL Liquidation Details
Bastion Trading, a major shareholder holding approximately 9.99% of SkyAI (Nasdaq: SKYA), has issued a statement demanding that Executive Chairman Paul K. Danner III and several directors publicly explain the decision-making process behind the liquidation of the company's entire SOL reserve and the approval of the cash tender offer, and calling for a higher offer price and stronger disclosure of conflicts of interest. Bastion Trading noted that SkyAI launched its tender offer on October 16, 2026, but failed to adequately address its previously raised corporate governance concerns; just one month earlier, the company had still stated that it held more than 2 million SOL and reaffirmed its Solana digital asset treasury (DAT) strategy.Bastion Trading demands that the tender offer price be raised from $3 per share to at least $3.5 per share, and that the maximum acquisition ratio of pre-funded warrants be increased from 95% to 100%; it also requires that strategic advisor warrants be excluded from the scope of the offer, that the securities and potential gains held by directors, officers, and related parties be disclosed, and that information including the SOL sale transactions, the company's balance sheet, and the basis for the tender offer pricing be published. The firm also stated that if directors cannot demonstrate that they fulfilled their independent oversight duties, they should resign voluntarily; otherwise, a special shareholders' meeting should be convened to let shareholders decide the composition of the board. The above content represents demands unilaterally raised by Bastion Trading, and the relevant response from SkyAI's board has not been reflected in the provided materials. (Globenewswire)
SkyAI 已清仓全部 SOL，并启动至多 2.013 亿美元的股票回购计划
SkyAI（前身为 Sharps Technology）已出售其财库持有的全部 SOL，持仓量从 9 月份的逾 200 万枚 SOL 降至截至 10 月 16 日的零枚。目前该公司持有 2.238 亿美元现金，并已启动一项回购计划，拟以每股或每份认股权证 3 美元的价格回购至多 2.013 亿美元的资产。
SkyAI shareholder Bastion Trading refused to participate in the tender offer, accusing the company of secretly dumping 70% of its SOL reserves.
According to GlobeNewswire, SkyAI (Nasdaq: SKYA) major shareholder Bastion Trading (holding approximately 9.99%) has publicly questioned the company’s cash tender offer plan. Bastion Trading noted that SkyAI quietly divested approximately 70% of its SOL treasury reserve (falling from over 2 million to roughly 600,000 tokens) in less than a month without timely disclosure to shareholders, potentially violating information disclosure regulations. Meanwhile, the company’s board of directors faced overwhelming opposition votes at the 2026 annual general meeting, casting doubt on its legitimacy. Bastion Trading demands that the company fully disclose the SOL sales details, restructure the board of directors, and improve the acquisition terms (increasing the offer price from $3.00 to at least $3.50); otherwise, it will not participate in the current tender offer and reserves the right to take legal action.
SkyAI recently sold a large volume of SOL, with cumulative losses exceeding $160 million.
According to Lookonchain data, SkyAI, which previously held 2 million SOL (approximately $214 million), has recently executed large-scale sell-offs. SkyAI disclosed that it has sold 1 million SOL (approximately $107 million) recently and stated it may continue to reduce its holdings. On-chain data shows that SkyAI has cumulatively transferred out 1.57 million SOL (approximately $175 million) in October. With an average cost basis of around $194, it is currently facing unrealized losses exceeding $160 million.
Liquidating SOL reserves: SkyAI sold approximately 1.25 million SOL over the past 5 days, worth $138 million
according to on-chain analyst Ember, treasury company SkyAI (Nasdaq: SKYA), which holds 2 million SOL, is liquidating its SOL reserves. Half an hour ago, it transferred 211,623 SOL to Coinbase Prime. SkyAI announced yesterday that the company had recently sold approximately 1 million SOL. Combined with the 211,000 SOL transferred to the exchange today, SkyAI is estimated to have sold approximately 1.25 million SOL in the past 5 days, worth $138 million. According to the announcement, the company plans to sell its SOL reserves and acquire 95% of its outstanding shares.
SkyAI transferred SOL worth approximately $115 million to exchanges over the past 3 days.
According to SolanaFloor, SkyAI, Solana's treasury company, transferred SOL worth approximately $51 million to Coinbase about 5 minutes ago. This brings its total token deposits to exchanges over the past 3 days to $114.87 million.
SkyAI and Bastion Trading reach a settlement over the stock repurchase plan, and will no longer purchase SOL going forward.
SolanaFloor reported that SkyAI, Solana’s treasury company, has reached a settlement with Bastion Trading, which now supports SkyAI repurchasing shares at $3 per share after previously opposing the plan. SkyAI also confirmed that it has sold all 2 million SOL at an average price of $107 each, and stated that it will not repurchase any SOL after completing the share buyback.
Bitget to Launch SKYAI Fixed Savings with Up to 52% APR
Bitget will launch the SKYAI Simple Earn Fixed Deposit product. Subscription opens on May 26 at 21:00 (UTC+8) and ends on July 25 at 21:00 (UTC+8). This product offers multiple fixed-term investment options, with a maximum APR of 52%. For more details, please visit the official Bitget platform.
Bitget CandyBomb: Futures Trading Unlocks 33,333 SKYAI Tokens
Bitget has launched a new CandyBomb campaign with a total prize pool of 33,333 SKYAI tokens. New users can earn up to 333 SKYAI each by completing tasks such as net deposits and futures trading. Detailed rules are available on the official Bitget platform. Eligible users must click the “Join Now” button to register before participating. The campaign ends on May 8 at 18:00 (UTC+8).
Bitget to List SKYAI and MEGA Spot Trading
Bitget will list SKYAI (SKYAI) and MegaETH (MEGA) spot trading. Deposit channels are now open, and trading channels will open at 16:00 and 19:00 (UTC+8) on April 30, respectively.
Related news
SkyAI and Bastion Trading reach a settlement over the stock repurchase plan, and will no longer purchase SOL going forward.
SolanaFloor reported that SkyAI, Solana’s treasury company, has reached a settlement with Bastion Trading, which now supports SkyAI repurchasing shares at $3 per share after previously opposing the plan. SkyAI also confirmed that it has sold all 2 million SOL at an average price of $107 each, and stated that it will not repurchase any SOL after completing the share buyback.
SkyAI Major Shareholder Bastion Trading Demands Board Accountability and Disclosure of SOL Liquidation Details
Bastion Trading, a major shareholder holding approximately 9.99% of SkyAI (Nasdaq: SKYA), has issued a statement demanding that Executive Chairman Paul K. Danner III and several directors publicly explain the decision-making process behind the liquidation of the company's entire SOL reserve and the approval of the cash tender offer, and calling for a higher offer price and stronger disclosure of conflicts of interest. Bastion Trading noted that SkyAI launched its tender offer on October 16, 2026, but failed to adequately address its previously raised corporate governance concerns; just one month earlier, the company had still stated that it held more than 2 million SOL and reaffirmed its Solana digital asset treasury (DAT) strategy.Bastion Trading demands that the tender offer price be raised from $3 per share to at least $3.5 per share, and that the maximum acquisition ratio of pre-funded warrants be increased from 95% to 100%; it also requires that strategic advisor warrants be excluded from the scope of the offer, that the securities and potential gains held by directors, officers, and related parties be disclosed, and that information including the SOL sale transactions, the company's balance sheet, and the basis for the tender offer pricing be published. The firm also stated that if directors cannot demonstrate that they fulfilled their independent oversight duties, they should resign voluntarily; otherwise, a special shareholders' meeting should be convened to let shareholders decide the composition of the board. The above content represents demands unilaterally raised by Bastion Trading, and the relevant response from SkyAI's board has not been reflected in the provided materials. (Globenewswire)
SkyAI 已清仓全部 SOL，并启动至多 2.013 亿美元的股票回购计划
SkyAI（前身为 Sharps Technology）已出售其财库持有的全部 SOL，持仓量从 9 月份的逾 200 万枚 SOL 降至截至 10 月 16 日的零枚。目前该公司持有 2.238 亿美元现金，并已启动一项回购计划，拟以每股或每份认股权证 3 美元的价格回购至多 2.013 亿美元的资产。
Bastion Trading Opposes SkyAI's $201 Million Tender Offer, Demands Investigation into ~70% SOL Sale and a Price Increase to at Least $3.50
Odaily News: Investor Bastion Trading has stated that it will not participate in SkyAI's proposed $201 million tender offer unless SkyAI addresses governance, disclosure, and pricing issues. Bastion Trading and its affiliates collectively hold approximately 9.99% of SkyAI's common stock. SkyAI plans to acquire up to 95% of its outstanding shares and eligible warrants at $3 per share.Bastion Trading is questioning the scale of SkyAI's sale of approximately 70% of its SOL treasury assets. SkyAI previously claimed to have sold about 1 million SOL, but subsequent regulatory filings showed it had only about 600,000 SOL remaining. Bastion Trading is demanding disclosure of the sale timing, average transaction prices, proceeds, transaction costs, and approval processes, as well as an independent review before the tender offer begins.Bastion Trading is also demanding the replacement of SkyAI board members, the establishment of an independent special committee to oversee the tender offer process, and a price increase to at least $3.50 per share. It is also calling for the removal of the $100 SOL price condition and the 50% minimum participation threshold, the exclusion of strategic advisor warrants, and a prohibition on insiders tendering their securities. (Bitcoin.com News)
SkyAI shareholder Bastion Trading refused to participate in the tender offer, accusing the company of secretly dumping 70% of its SOL reserves.
According to GlobeNewswire, SkyAI (Nasdaq: SKYA) major shareholder Bastion Trading (holding approximately 9.99%) has publicly questioned the company’s cash tender offer plan. Bastion Trading noted that SkyAI quietly divested approximately 70% of its SOL treasury reserve (falling from over 2 million to roughly 600,000 tokens) in less than a month without timely disclosure to shareholders, potentially violating information disclosure regulations. Meanwhile, the company’s board of directors faced overwhelming opposition votes at the 2026 annual general meeting, casting doubt on its legitimacy. Bastion Trading demands that the company fully disclose the SOL sales details, restructure the board of directors, and improve the acquisition terms (increasing the offer price from $3.00 to at least $3.50); otherwise, it will not participate in the current tender offer and reserves the right to take legal action.
SkyAI recently sold a large volume of SOL, with cumulative losses exceeding $160 million.
According to Lookonchain data, SkyAI, which previously held 2 million SOL (approximately $214 million), has recently executed large-scale sell-offs. SkyAI disclosed that it has sold 1 million SOL (approximately $107 million) recently and stated it may continue to reduce its holdings. On-chain data shows that SkyAI has cumulatively transferred out 1.57 million SOL (approximately $175 million) in October. With an average cost basis of around $194, it is currently facing unrealized losses exceeding $160 million.