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

SkyAI, a former medical device maker that had repositioned itself as a Solana treasury company, has liquidated its entire SOL holdings and is launching a $201 million buyback of shares and warrants funded from $223.8 million in cash. The move unwinds a corporate treasury strategy built around SOL exposure and returns capital to shareholders instead. Traders may read the full liquidation as a negative signal for corporate demand for Solana and a cautionary data point for other treasury-style crypto vehicles.