SkyAI Exits Solana Treasury, Raises Cash Tender Offer to $214.3M
SkyAI has sold its Solana holdings and increased its cash tender offer to $214.3 million after settling with Bastion Trading.
SkyAI has sold its Solana holdings and increased its cash tender offer to $214.3 million after settling with Bastion Trading. Solana (SOL) is trading at ₹9,670 ($101.58), up 0.5% since this brief published. This is an original Token Times brief synthesising 2 outlets (Crypto Economy, Crypto.news), with their figures cross-checked, plus live market data, as of Wed, 28 Oct 2026 18:00:01 UTC.
This development marks a significant shift in SkyAI's treasury strategy, moving away from digital assets and increasing its cash position. The move could influence other firms holding crypto treasuries and impact market sentiment around Solana.
- SkyAI sold ~2M SOL, exiting its Solana treasury strategy.
- Cash tender offer increased to $214.3M after Bastion settlement.
- SkyAI now holds ~$223M in cash following the transactions.
- Solana price remains relatively stable despite the large sale.
Both Crypto Economy and Crypto.news report that SkyAI has completed the sale of approximately 2 million SOL, raising around $223 million in cash and ending its Solana treasury strategy. They also agree that the company has raised its cash tender offer to $214.3 million following a settlement with Bastion Trading. However, Crypto.news emphasizes the settlement with Bastion Trading as a catalyst for the increased tender offer, while Crypto Economy focuses on the broader implications of the treasury strategy shift.
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- SkyAI Exits Solana Treasury, Launches $201M Share Buyback
- SkyAI Sells Entire Solana Holdings for $201M Buyback
- SkyAI Exits Solana Treasury, Raises Cash Tender Offer to $214.3M — this brief
SkyAI has completed the sale of roughly 2 million SOL, exiting its 
Solana digital-asset treasury strategy and raising approximately $223 million in cash. This move signifies a significant shift in the company's asset allocation strategy, moving away from digital assets and increasing its cash holdings.
Following the sale, SkyAI has expanded its cash tender offer to $214.3 million. This increase comes after the company settled with Bastion Trading, which has agreed to tender all its shares and warrants and accept a three-year standstill. The tender offer, if fully subscribed, could result in a substantial cash outlay for SkyAI.
The transactions were corroborated by multiple outlets, with both Crypto Economy and Crypto.news reporting the same figures for the SOL sale and the tender offer. However, they differ slightly in their emphasis, with Crypto.news highlighting the Bastion Trading settlement as a key factor in the tender offer increase.
The move comes at a time when the total crypto market cap stands at $2.76 trillion, with the overall market showing little movement. 
Bitcoin is down 0.02% in the last 24 hours, while the Fear & Greed index remains in neutral territory at 51. Solana's price has remained relatively stable despite the large sale, currently trading at $101.04, up 0.14% in the last 24 hours.
The decision by SkyAI to exit its Solana treasury and increase its cash holdings could have broader implications for other firms holding crypto treasuries. It also raises questions about the future of corporate crypto holdings and the potential for similar moves by other companies in the space.
Since this brief published about 2 hours ago, Solana (SOL) has moved from ₹9,618.94$101.04 to ₹9,670.35$101.58 — +0.53%.
The chart plots SOL's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 SOL ≈ ₹9,980.24 (about $101.58), up 0.9% over 24 hours. The rupee itself trades about 3.2% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
1 key figure independently matched across 2 outlets reporting this story.
Token Times extracts the figures each outlet reports and flags the ones that agree. Numbers cited by only one outlet are attributed in the brief, not shown as corroborated.
Figures and sectors in this story, checked live against on-chain aggregators · October 28, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
SkyAI Exits Solana Treasury, Raises Cash Tender Offer to $21 — questions & answers
Why did SkyAI sell its Solana holdings?
SkyAI sold its Solana holdings to shift its treasury strategy, moving away from digital assets and increasing its cash position.
How much is SkyAI's new cash tender offer?
SkyAI's new cash tender offer is $214.3 million.
What impact did the SOL sale have on Solana's price?
Solana's price remained relatively stable, with a slight increase of 0.14% in the last 24 hours.
How much is 1 Solana worth in rupee today?
About ₹9,980.24 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $101.58. The rupee price moves with both SOL's US-dollar price and the USDT/INR rate; use our Solana in rupee page for any amount.
Has Solana's price moved since this brief was published?
SOL is up 0.53% since this brief first published — trading at ₹9,670 ($101.58) now versus ₹9,619 ($101.04) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Crypto Economy, Crypto.news, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.