News about SOLUSDT

SkyAI, formerly Sharps Technology, has sold its entire Solana (SOL) treasury and launched a tender offer to buy back up to $201.3 million of shares and warrants, reversing its crypto accumulation strategy. As of Oct. 16 the company held about $223.8 million in cash, and the offer covers up to 95% of each class of shares and warrants at a fixed price, no longer tied to SOL's price as originally planned. The company says it will keep building a financial platform that combines stablecoin infrastructure on Solana with artificial intelligence. The strategy began in August 2025 after a private placement of more than $400 million, and by the end of 2025 it had produced about $153 million in unrealized losses. SkyAI shares closed Monday at $2.79, up 5.3% on the day.