SDEV•Stablecoin Development reported Q3 net income of $50.4 million, driven by a 49% increase in SKY’s price and a $58.8 million non-cash unrealized gain. Staking revenue totaled $2.1 million, and the company held 2.32 billion SKY tokens at quarter-end.
Stablecoin Development reported Q3 net income of $50.4 million, with a 49% rise in the SKY token price driving a $58.8 million non-cash unrealized gain. Q3 EPS was $0.23.
The company held 2.32 billion SKY tokens, about 10% of total supply at quarter-end. It earned $2.1 million in staking revenue, and said nearly all its SKY tokens remained staked in Sky Protocol, enabling governance participation.
The company warned that the SKY token price may fluctuate significantly, affecting the value of its assets in the future.
