Bastion Trading Escalates Demands Against SkyAI Over SOL Treasury Liquidation

Key Facts

1Bastion Trading, holding a 9.99% stake in SkyAI, demanded accountability from the board regarding the liquidation of the company's entire SOL treasury.

2Bastion Trading called for improved cash tender offer terms or the resignation of the responsible board directors.

Bastion Trading demanded accountability from the SkyAI board regarding the liquidation of the company's entire SOL treasury, according to a statement reported by GlobeNewswire. The firm, which holds a 9.99% stake in SkyAI, called for improved cash tender offer terms or the resignation of the responsible board directors.

SKYA shares closed at $2.83 on October 20, 2026, amid concerns over the fundamental change to the company's business model without prior shareholder notice. These demands follow SkyAI's liquidation of 2 million SOL tokens, which Bastion Trading views as a reversal of the company's previously reaffirmed strategy.