Stablecoin Development Corporation (NYSE American: SDEV) reported second quarter 2026 staking revenue of $2.2 million and first-half 2026 staking revenue of $4.7 million, generated from staked SKY tokens in the Sky Protocol ecosystem. Q2 results included a $50.6 million non-cash unrealized loss on digital assets and an operating loss of $53.8 million, leading to a Q2 net loss of $41.1 million.
As of June 30, 2026, SDEV held 2.29 billion SKY tokens (about 10% of total supply) with a fair value of $119.2 million and cost basis of $147.2 million; substantially all were staked. The company reported cash and equivalents of $7.0 million, total liabilities of $0.3 million, no debt, and stockholders’ equity of $127.2 million. SDEV completed a cashless exercise of October 2025 pre-funded warrants, eliminating warrant liabilities after issuing 22.6 million shares, relocated its headquarters to West Palm Beach to reduce fixed costs, and reported that its cash operating expenses of approximately $2.2 million in Q2 were approximately equal to staking revenue.
Stablecoin Development (NYSE American:SDEV) reported Q1 2026 operating income of $22.3 million, versus a prior-year operating loss. GAAP net income was $552.4 million, driven largely by significant non-cash warrant-related gains.
The company held 2.15 billion SKY tokens worth $160.1 million at March 31, 2026, rising to 2.26 billion tokens after purchasing 86.5 million more for $6.5 million by May 14. Q1 staking generated $2.5 million revenue and an unrealized digital-asset gain of $22.7 million. Cash and cash equivalents were $18.4 million, with total assets of $179.7 million. The Sky Protocol ecosystem reported Q1 2026 gross protocol revenue of $123.8 million and net protocol surplus of $46.0 million, with total protocol collateral of $13.0 billion.
Stablecoin Development Corporation (NYSE American: SDEV) began trading under the SDEV ticker after completing its legal name change effective April 2, 2026. The company repositioned as an on-chain holding company focused on protocol-aligned digital asset ecosystems, initially targeting the Sky protocol.
As of March 31, 2026, the company held ~2.15 billion SKY (~9.15% supply), earned ~35.3 million SKY in staking rewards, raised ~ $134 million gross in January 2026, and acquired ~1.17 billion SKY on the open market at an average ~$0.065 per token.