COINTELEGRAPH · 2026-10-19 21:04 UTC

Solana treasury firm SkyAI sells all SOL holdings, launches $201M buyback

SkyAI sold its entire Solana treasury and launched a $201.3 million tender offer to repurchase shares and warrants, reversing its cryptocurrency accumulation strategy. The company held $223.8 million in cash after liquidating SOL holdings, with the tender offer covering up to 95% of outstanding shares and warrants. SkyAI acquired over 2 million SOL in 2025 at ~$194 per token but faced ~$153 million in unrealized losses; SOL has since recovered to ~$104.

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