Emptying the crypto treasury with one hand, funneling cash back into itself with the other — SkyAI's latest move sends a clear signal. The company sold off its entire SOL holdings, netting a $223.8 million cash position, and now holds zero Solana on its books.
Right after that, SkyAI announced a $201 million buyback program priced at $3 per unit, running from now through October 29. Do the math and that buyback amount eats up nearly all the cash raised from the SOL sale.
That's all that's been disclosed so far — SkyAI hasn't yet detailed what exactly the buyback targets, how the funds will be allocated, or the specific reasoning behind clearing out its SOL position.
