Solana
Bastion Trading challenges SkyAI over Solana treasury sales ahead of planned buyback
A significant shareholder has demanded full disclosure regarding an unexplained 400,000 SOL reduction in SkyAI's balance sheet before participating in a 201-million-dollar repurchase.
Shareholder Bastion Trading, which holds approximately 9.99 percent of SkyAI alongside affiliates, has requested comprehensive transaction records and independent oversight following a sharp decline in the company's Solana holdings. SkyAI's SOL treasury decreased by roughly 70 percent, dropping from over 2 million tokens in September to around 600,000 tokens according to an October 13 SEC filing.
Bastion highlighted a 400,000 SOL discrepancy between an October 11 announcement claiming 1 million tokens were retained and the subsequent SEC regulatory filing. The investment firm is asking for specific transaction dates, execution prices, fees, and board approval documentation, calling the divestments a departure from the company's stated treasury strategy.
As a result, Bastion stated it will not tender its shares in SkyAI's proposed 201 million dollar buyback at the current 3.00 dollar offer price, instead advocating for an increase to at least 3.50 dollars per share. Governance tensions have also intensified following a September meeting where all five directors received more withhold votes than votes in favour.
These two are not the same thing, and one does not produce the other. The left is how this single article reads, from its tone alone. The right is the site’s own call on the asset, from indicators and analysis. Press tone feeds no score and no signal: on the only corpus this site has measured, daily tone tracked the move that had already happened and showed no measurable link with what followed.
More on Solana All pieces →
- Sell NBA Instagram Account Compromised to Promote Solana-Based Memecoin Scam
- Neutral Solana Foundation schedules Alpenglow consensus upgrade for epoch 1064
- Sell Solana open interest on OKX declines twelve percent as token trades near 100 dollars
- Neutral Solana Faces Fund Outflows Ahead of Alpenglow Upgrade Following Weekly Drop
Rewritten from the headline, the teaser and the one-line summary the qualification step produced — that is all the material there is, and nothing is added to it. The source link is kept on file so any item can be checked, and is not published here.
