Every 8-K that Stablecoin Development Corporation (SDEV) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow SDEV and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SDEV filings page.
Stablecoin Development Corporation (SDEV) reported approximately 2,321,910,691 SKY held as of October 2, 2026, representing approximately 10% of total SKY supply; it held 2,286,511,374 SKY as of June 30, 2026. SKY remains its only approved digital-asset investment and sole staked asset, and acquisitions are made through open-market transactions.
For the six months ended June 30, 2026, SDEV earned 67,132,900 SKY in staking rewards, recognized as $4.7 million in revenue; second-quarter rewards were 31,746,251 SKY ($2.2 million). The published annualized reward rate was approximately 6.6% as of October 2, 2026. More than 99% of its SKY was deployed in staking as of that date; SDEV says it can unstake at any time without a lockup.
Approximately $83.2 million remained available under the $100.0 million ATM Program as of September 30, 2026. Full exercise of pre-funded warrants could issue up to 167,539,227 shares, compared with 51,751,359 common shares outstanding as of October 2, 2026; SDEV would receive only the $0.05-per-share exercise price, or no additional cash in a cashless exercise. SDEV also describes governance, custody, liquidity and regulatory risks.
Stablecoin Development Corp. (SDEV) said it became aware of unusual trading activity in its common stock on the NYSE American on September 29, 2026. After making inquiries, the company said it did not believe corrective actions were appropriate. It also said it was unaware of material non-public information or a pending transaction involving the company, its stockholders, directors or officers that could be causing the activity. The company reported no previously undisclosed material development in its business and affairs and, to its knowledge, no other reason for the unusual market action.
Stablecoin Development Corporation (SDEV) reports two main changes: a new board member and a cleanup of its preferred stock structure. On September 2, 2026, the board appointed David Garcia Rios as a Class II director, with his term running until the 2027 annual meeting. He was nominated under an Investors’ Rights Agreement by Sky Frontier Foundation, which, together with other investors, previously entered a Securities Purchase Agreement under which investors purchased approximately $134 million of pre-funded warrants, including about $16 million by Sky Frontier Foundation; Sky Frontier Foundation beneficially owns about 9.99% of SDEV’s outstanding common stock. Garcia Rios will receive standard director cash compensation of $40,000 per year and has an indemnification agreement with the company but is not eligible for an initial equity award due to his affiliation with a designating stockholder. Separately, as of September 2, 2026, SDEV had no outstanding shares of its Series A–F preferred stock and filed multiple Certificates of Withdrawal in Delaware eliminating each related Certificate of Designation. Those shares return to authorized preferred stock, leaving 5,000,000 preferred shares available for future designation and issuance under the certificate of incorporation.
Stablecoin Development Corporation reported second-quarter 2026 results reflecting growing staking activity and significant non-cash volatility tied to SKY token prices. For the quarter ended June 30, 2026, the company generated $2.2 million of staking revenue and recorded a $53.8 million operating loss, including a $50.6 million non-cash unrealized loss on digital assets. General and administrative expenses were $5.4 million, of which $3.2 million was stock-based compensation, resulting in cash operating expenses of about $2.2 million, roughly matching staking revenue.
For the first half of 2026, staking revenue was $4.7 million and the operating loss was $31.6 million, while GAAP net income of $511.3 million was driven almost entirely by fair-value accounting for pre-funded warrants rather than core operations. As of June 30, 2026, the company held 2,286,511,374 SKY tokens, approximately 10% of total SKY supply, with a fair value of $119.2 million, alongside $7.0 million in cash, total liabilities of $0.3 million, and no debt or warrant liabilities. By July 27, 2026, SKY holdings had increased modestly and were valued at about $128.0 million based on market prices, and the company had completed a cashless exercise of earlier pre-funded warrants, simplifying its capital structure while maintaining substantial exposure to the Sky Protocol ecosystem.
Stablecoin Development Corporation appointed Henry Blynn as Chief Operating Officer effective July 15, 2026. Blynn previously served as the company’s Head of Business Operations and Strategy and has prior experience in digital asset funds, crypto brokerage, private equity, and investment banking.
Under an amended and restated employment agreement dated July 16, 2026, Blynn receives a $300,000 base salary and is eligible for an annual cash bonus targeting 50% of base salary. In certain terminations without Cause or for Good Reason he is entitled to severance benefits, with salary continuation and health-benefit premiums increased to 12 months and paid in a lump sum if such termination occurs within 12 months of a change in control event.
The Compensation Committee previously granted Blynn 1,400,000 time-based RSUs that vest in three equal installments on February 16, 2027, January 16, 2028, and January 16, 2029, subject to continued employment and with accelerated vesting in specified termination and transaction scenarios. The Board also set CEO Michael Kazley’s 2027 base salary at $400,000, effective January 1, 2027, while his target annual bonus remains at least 100% of base salary.
Stablecoin Development Corporation amended October 2025 pre-funded warrants held by R01 Fund LP and Framework Ventures IV L.P. to remove certain exercise restrictions, leading both holders to fully exercise on a cashless basis.
Each holder received 11,307,300 shares of common stock after 24,720 shares were withheld as the cashless exercise price, resulting in an aggregate issuance of 22,614,600 new shares. Because the exercise was cashless, the company did not receive cash proceeds from these warrant exercises. Following these issuances, 50,449,780 shares of common stock were issued and outstanding as of June 15, 2026, meaning existing shareholders experienced a significant increase in the total share count.
Stablecoin Development Corporation reported a sharp turnaround in Q1 2026, generating $22.3 million of operating income versus a $3.3 million operating loss a year earlier. Results were driven by $2.5 million of staking revenue and a $22.7 million unrealized gain on digital assets.
GAAP net income was $552.4 million, largely from non-cash warrant-related gains of about $5.8 billion offset by a $5.3 billion non-cash loss, which the company stresses are not reflective of recurring cash earnings. As of March 31, 2026, it held 2.15 billion SKY tokens (about 9% of supply), and by May 14, 2026 had increased holdings to roughly 2.26 billion SKY tokens after purchasing about 86.5 million additional tokens. The company also raised approximately $0.6 million by selling 398,367 common shares under its ATM program, leaving $85.7 million available.
Stablecoin Development Corporation announced that investors should no longer rely on its audited consolidated financial statements for the year ended December 31, 2025, due to an error in accounting for certain pre-funded warrants issued on October 16, 2025. An anti-dilution adjustment increased the shares issuable under these warrants from 1,081,082 to 22,664,040 and reduced the exercise price per share from $0.05 to $0.002385. This will increase the reported warrant liability as of December 31, 2025 from $30.4 million to $639.1 million and increase the net loss for 2025 from $22.1 million to $630.8 million. The company states these adjustments are entirely non-cash and do not affect cash, revenue, operating expenses, operating income, or cash flows. It plans to restate the 2025 financial statements in a Form 10-K/A and expects to reclassify the pre-funded warrants from a liability to equity in its financial statements for the quarter ended March 31, 2026, following stockholder approval on March 12, 2026.