Bastion presses SkyAI board over $201M buyback paying insider-linked advisor
Image: Cryptopolitan
Bastion Trading demanded on October 21 that SkyAI’s (Nasdaq: SKYA) executive chairman and three directors explain why they liquidated SkyAI’s entire Solana (SOL) treasury. The fund is also asking why they signed off on a $201 million buyback, considering that up to $11.9 million of it could go to one of their director’s brothers. Why is SkyAI’s executive chairman being questioned? Bastion Trading has published a statement in which it named SkyAI’s Executive Chairman Paul K. Danner III and directors Soren Bo Christiansen, Timothy J. Ruemler and Jason L. Monroe, and said each must account individually for the sale of the company’s entire SOL holding and the approval of a $201 million buyback offer.
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