SkyAI investor resists SOL liquidation as treasury value plunges
SkyAI's Solana treasury shrank by 70% in less than a month, and 400,000 SOL were not accounted for. Bastion Trading, a major shareholder, is resisting the company's SOL sales. It will not tender its shares at $3 and is asking for $3.50.
SkyAI's Solana treasury lost roughly 70% of its value in less than a month. The company also has 400,000 SOL that are unaccounted for, according to the available summary. Bastion Trading, a major shareholder, is resisting SkyAI's SOL sales.
Bastion has refused to tender its shares at $3 and is asking for $3.50. The disagreement centers on how SkyAI handles its Solana holdings during the steep decline.
The dispute may affect SkyAI shareholders and crypto investors exposed to Solana-linked treasuries. If SOL sales proceed or are blocked, Bastion and other holders could face differing outcomes. Broader confidence in corporate crypto treasuries may be tested, potentially influencing how firms and retail investors view digital-asset balance sheets. Employees and counterparties could also be indirectly affected if the company's finances remain strained.