Bastion Trading challenges SkyAI's proposed $201 million buyback

Bastion Trading, which, with affiliates, owns about 9.99% of SkyAI (Nasdaq: SKYA), challenged the company’s proposed $201 million buyback on October 14. SkyAI’s Solana holdings had fallen roughly 70% in under a month, and Bastion wants to know exactly when and how the tokens were sold. The clash could resonate beyond SkyAI. If crypto treasury companies face falling share prices, will they start selling the assets they spent months accumulating? The 400,000 SOL that moved between two filings On September 14, SkyAI announced that it had over two million SOL in its possession. However, on October 11, the company confirmed that half had been disposed of, leaving one million for SkyAI as mentioned in its statement.

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