Exchanges· ★★★· bearish·

Bastion Trading threatens legal action as SkyAI board pressure mounts

  • —Bastion Trading holds about 9.99% of SkyAI and is pushing for a board shakeup
  • —All five directors drew 18.4M–20.7M withheld votes versus only 6.9M–9.2M in favor
  • —About 82% of shareholders rejected the 2026 equity incentive plan, 22.5M votes against 5M
  • —A related party received $5 million in consulting fees from SkyAI in H1 2026
Why it matters: The governance fight at a Solana treasury company could dent institutional confidence in crypto treasury vehicles and weigh on sentiment around Solana itself.
#SOL
Source: The Cryptonomist
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