{
  "id": 15656396,
  "title": "Solana treasury firm SkyAI sells all SOL holdings, launches $201M buyback",
  "url": "https://urgent.news/2026/10/19/solana-treasury-firm-skyai-sells-all-sol-holdings-launches-201m",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-19T21:04:34.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/news/solana-treasury-skyai-sells-all-sol-holdings-launches-201m-buyback"
  },
  "original_language": "en",
  "account": "SkyAI, the former medical device company, has sold all of its Solana (SOL) holdings and initiated a $201 million share and warrant buyback. The company, which changed its name from Sharps Technology, had previously accumulated more than 2 million SOL, valued at over $400 million at the time, as part of its treasury strategy. However, as of October 16, SkyAI liquidated its SOL holdings, leaving it with $223.8 million in cash. This move came after the company scrapped its original plan to tie the buyback to SOL's price, a condition it had initially included in its announcement on October 11. The tender offer now stands as a standalone cash-funded transaction, covering up to 95% of each class of the company's outstanding shares and warrants. SkyAI intends to focus on developing a financial platform that integrates stablecoin infrastructure on Solana with artificial intelligence capabilities. The company's shares closed at $2.79 on Monday, marking a 5.3% increase for the day, and have seen a 65% rise over the past month. However, SkyAI's stock remains down approximately 41% over the past year.",
  "summary": "The former medical device maker has liquidated its Solana treasury and is offering to repurchase shares and warrants using its $223.8 million cash holdings.",
  "key_points": [
    "SkyAI sold all SOL holdings, liquidating 2 million tokens valued at $400M",
    "Company scrapped plan to tie buyback to SOL price, now standalone cash-funded",
    "SkyAI launches $201M buyback to develop AI-integrated financial platform on Solana"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}