SkyAI Sells All Solana Holdings, Holds $223.8M Cash, Launches Up to $201.3M Buyback

The speed of the unwind—from over 2 million SOL in September to zero by October 16—makes this less a strategic rotation than a full retreat from the treasury-company model, and the buyback now becomes the primary vehicle for returning capital rather than token exposure. It matters most for holders who bought into the Solana-treasury thesis, since the company's equity is now effectively a cash-and-buyback story tied to a $3 reference level. Whether other single-token treasury vehicles follow a similar exit, and whether the buyback is executed in full, are the open questions worth tracking.