Solana Price Faces $50 Risk as SkyAI Governance Battle Escalates
The Solana price has enjoyed a strong recovery, but its rally is now facing a new risk due to a corporate treasury dispute involving SkyAI, formerly Sharps Technology. The company holds approximately 2.08 million SOL worth around $207 million, making it one of the largest public corporate holders of Solana.
SkyAI's treasury includes about 1.49 million liquid SOL and roughly 509,650 locked SOL scheduled for release through 2028. This significant exposure gives SkyAI a meaningful connection to the Solana market and raises concerns about its governance battle.
Forward Industries submitted an all-stock acquisition proposal for SkyAI at a premium in June 2026, but the board unanimously rejected it. The dispute didn't end there as activist shareholders have raised concerns about related-party transactions and urged shareholders to vote against current board members.