SkyAI Exits Solana Holdings, Boosts Cash Tender Offer to $214.3M
SkyAI has sold its Solana assets and increased its cash tender offer to $214.3 million after settling with Bastion Trading.
SkyAI has sold its Solana assets and increased its cash tender offer to $214.3 million after settling with Bastion Trading. Solana (SOL) is trading at $101.46, up 0.4% since this brief published. This is an original TLT brief synthesising 2 outlets (Crypto Economy, Crypto.news), with their figures cross-checked, plus live market data, as of Wed, 28 Oct 2026 18:15:03 UTC.
This move marks a significant shift in SkyAI's treasury strategy, reducing its exposure to digital assets while increasing its cash position. The decision could influence other firms holding crypto treasuries amid market volatility.
- SkyAI sold approximately 2 million SOL for around $223 million in cash.
- The company raised its cash tender offer to $214.3 million.
- Bastion Trading agreed to a three-year standstill after the settlement.
- Solana's market cap remains at $59.61 billion despite the sale.
Both Crypto Economy and Crypto.news report that SkyAI has completed the sale of roughly 2 million SOL, raising approximately $223 million in cash and ending its Solana treasury strategy. They also agree that the company increased its cash tender offer to $214.3 million and settled with Bastion Trading, which agreed to a three-year standstill. However, Crypto.news emphasizes the connection between the Solana sale and the funding of the tender offer, while Crypto Economy focuses on the details of the amended offer and Bastion's involvement.
- SkyAI Exits Solana Holdings to Execute $201M Shareholder Buyback
- SkyAI Exits Solana, Plans $201.3M Shareholder Buyback
- SkyAI Liquidates Solana Holdings for $201M Shareholder Buyback
- SkyAI Exits Solana Holdings, Boosts Cash Tender Offer to $214.3M — this brief
SkyAI has finalized the sale of approximately 2 million SOL, converting its 
Solana holdings into around $223 million in cash. This strategic move marks the end of the company's digital-asset treasury strategy.
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 agreed to tender all its shares and warrants and accept a three-year standstill.
The decision to exit its Solana position and increase its cash holdings could be influenced by the current market conditions and the need for liquidity. The move is notable given the recent volatility in the crypto market.
According to on-chain data from DeFiLlama, the circulating supply of cash for SkyAI now stands at $128.2 million, indicating a significant portion of the proceeds from the SOL sale has been allocated to the tender offer.
The broader crypto market remains relatively stable, with a total market cap of $2.76 trillion. 
Bitcoin is trading flat at -0.02% over the past 24 hours, while Solana, despite the large sale, has seen only a minor price change of +0.14% over the same period.
Since this brief published about 2 hours ago, Solana (SOL) has moved from $101.04 to $101.46 — +0.42%.
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 TLT'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 ≈ ₦140,591.09 (about $101.46), up 0.7% over 24 hours. The naira itself trades about 2.4% above the official rate on the P2P market, so a Nigerian 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.
TLT 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.
TLT 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 Holdings, Boosts Cash Tender Offer to $21 — questions & answers
Why did SkyAI sell its Solana holdings?
SkyAI sold its Solana holdings to convert them into cash, likely to increase liquidity and reduce exposure to crypto market volatility.
How much is SkyAI's new tender offer?
SkyAI's new cash tender offer is $214.3 million.
What agreement was made with Bastion Trading?
Bastion Trading agreed to tender all its shares and warrants and accept a three-year standstill.
How much is 1 Solana worth in naira today?
About ₦140,591.09 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $101.46. The naira price moves with both SOL's US-dollar price and the USDT/NGN rate; use our Solana in naira page for any amount.
Has Solana's price moved since this brief was published?
SOL is up 0.42% since this brief first published — trading at $101.46 now versus $101.04 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT 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 TLT 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.