SkyAI Sells Hundreds of Millions Worth of Solana Assets

SkyAI has begun a large-scale sale of Solana (SOL) tokens, attracting the attention of investors and analysts. Previously, the firm's reserves amounted to approximately 2 million SOL, but the situation changed sharply in October.

SkyAI confirmed the sale of 1 million SOL for $107 million. Since early October, more than 1.57 million tokens worth around $175 million have been withdrawn from corporate wallets. Part of the proceeds were transferred to Coinbase Prime and BitGo accounts.

The average purchase price of assets was approximately $194 per SOL coin. According to estimates, the company's losses from this deal already exceed $160 million. Further asset liquidation is not ruled out.

The company plans to use the proceeds for a buyback of its own shares and warrants. The total amount of the buyback could reach $201 million.