SDEV$0.9566+3.98%
Stablecoin Development Corp
Sector: Finance ServicesIndustry: Asset Management - CryptocurrencyCountry: USExchange: NYSE
Mkt Cap:$69.94M
Float & O/S:
Inst Own:
DilutionScan read 25 of Stablecoin Development Corp's SEC filings and found 11 warrant series, 5 convertibles, 1 ATM program, 2 shelf registrations and 3 completed offerings on file for SDEV. The latest dilution event on file is ATM sales on Oct 26, 2026. Analysis updated Oct 29, 2026.
Signal8 Summary
SDEV
Crypto pivot, heavy dilution, tight cash
Snapshot
SDEV used to sell eye and skin products but has fully pivoted into a crypto-treasury company holding about 2.3 billion SKY tokens. It earned $4.7M in staking revenue in the first half of 2026, but a $50.6M non-cash token value drop drove a $641.1M net loss for the year.
What's Happening Right Now
- : SDEV's 2026 proxy disclosed that R01 Fund LP and Framework Ventures IV, together with CEO Michael Kazley, controlled about 87.6% of voting power, plus a large performance RSU grant for the CEO tied to stock-price and digital-asset-value targets.
- : SDEV filed an S-3 shelf registering resale of up to 212.9M shares, about 4.2 times the 50.6M shares outstanding, tied to January 2026 pre-funded warrants held largely by CEO-affiliated and crypto-industry holders.
- : SDEV appointed a Sky Frontier Foundation-designated director to its board and withdrew its unused Series A-F preferred stock designations in Delaware.
- : SDEV's 10-Q confirmed its transition from NovaBay Pharmaceuticals into a digital-asset holding company, now holding 2.29B SKY tokens worth about $119.2M, roughly 94% of total assets.
- : Law firm Abbott Cooper PLLC announced an investigation into potential fiduciary-duty breaches on behalf of SDEV stockholders who held shares before August 19, 2025.
