SkyAI(@skyaico), which held 2M $SOL ($214M), has been dumping $SOL heavily recently. SkyAI disclosed that it has sold 1M $SOL ($107M) recently and may continue selling. On-chain data shows that SkyAI has transferred out 1.57M $SOL ($175M) in October. Their average purchase price was ~$194, and they are currently sitting on losses of over $160M.

SkyAI, which holds over 2M $SOL($220M), appears to be dumping $SOL at a loss! Over the past 3 days, they have transferred 568,000 $SOL ($63.87M) to exchanges. Their average purchase price was ~$194, and they would lose ~$46M if sold.

In June @FWDind approached SkyAI with an all-stock transaction at a 20% premium to their closing price on June 15. They rejected the offer without engaging us. At the 0.367 exchange ratio offered that premium is approximately 80% as of yesterday's closing prices. If any reporters or analysts want to chat about our findings during the diligence process for this offer or other details surrounding SkyAI, my DMs are open.

🚨JUST IN: Solana treasury company @skyaico says it has entered into a settlement with Bastion Trading, which now backs its $ 3-per-share buyback after previously opposing it. SkyAI also confirms it sold all 2M $SOL at an average of $107 and will not repurchase $SOL after its share buyback.

According to Bastion Trading, Solana treasury company SkyAI sold approximately 70% of its SOL holdings in less than a month, leaving around 600,000 SOL, without adequately disclosing the timing, prices or approval process. Bastion and its affiliates, which hold approximately 9.99% of SkyAI, are calling for full disclosure of the sales, a board overhaul and an increase in the proposed cash tender offer price from $3.00 to at least $3.50 per share or eligible warrant, while excluding management and related parties from participating.

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🥳 #MGBX# Standout Tokens - Top 3 1️⃣ #BTW# - $0.107672 @BitwayOfficial 2️⃣ #SKYAI# - $0.03947 @SKYAIpro 3️⃣ #PIPPIN# - $0.01871 @pippinlovesyou 👉 Start trading now: ⚠️ Disclaimer: This post is for informational purposes only and does not constitute investment advice.

🚨JUST IN: First Solana DAT to sell $SOL? @Solana treasury company SkyAI transferred $51M worth of $SOL to @coinbase 5 minutes ago, bringing its total transfers to exchanges to $114.87M over the past 3 days.