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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（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。
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.
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.
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.
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.
According to Lookonchain monitoring, SkyAI holds over 2 million SOL, worth approximately $220 million. In the past 3 days, SkyAI transferred 568,000 SOL to exchanges, worth $63.87 million. Its average purchase price was approximately $194, and it would incur a loss of approximately $46 million if sold.
According to monitoring by crypto analyst Ember (@EmberCN), SKYAI's price has risen from $0.073 to $0.8 over the past month, representing an increase of approximately 10 times. An address spent 49,000 USDT to purchase 1.032 million SKYAI in June last year, with an entry price of approximately $0.048.Following the recent surge in SKYAI, this address has sold 873,000 SKYAI in the past few days, with a transaction value of approximately $372,000 and an average selling price of about $0.426. Currently, it still holds 158,000 SKYAI, valued at approximately $125,000.
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 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.
Evening Trader Group stated that a coordinated wallet cluster has held a significant portion of the SKYAI token supply for nearly a year. Currently, 73 associated wallets collectively hold 299.6 million SKYAI, with a position market value of approximately $69.6 million. Fund flow tracking shows that the cluster gradually accumulated tokens through multiple intermediary wallets, completing its initial position building a year ago via PancakeSwap and centralized exchanges at a price of $0.0399. Based on the current price, the overall return rate is approximately 476%. As of now, no on-chain signals related to token distribution or dumping have been detected.