SkyAI sells off entire Solana treasury as it launches $201 million buyback

SkyAI liquidated its entire Solana treasury, leaving it with $223.8 million in cash, and is launching a $201 million buyback at $3 per share running through Oct. 29. The full unwind of a corporate SOL position signals reduced institutional demand for the token and could pressure Solana sentiment, while the large buyback is a capital-return move for equity holders rather than a crypto-market catalyst. Traders should watch whether other treasury-holding firms follow with similar Solana sales.