Solana treasury firm SkyAI sells 1 million SOL, plans $201 million share buyback

Solana treasury company SkyAI has sold approximately 1 million SOL, or half of its cryptocurrency reserves, as it prepares a cash tender offer worth up to $201 million to repurchase most of its outstanding shares and warrants. SkyAI has confirmed selling approximately 1 million SOL, representing half of its cryptocurrency reserves, to help fund a planned $201 million share buyback. Blockchain analyst Ember reported another 211,623 SOL transfer to Coinbase Prime, estimating total disposals at roughly $138 million over five days.