Earnings ·
Reports Q3 net income of $50.4M, or $0.23 per share, driven by unrealized gains on SKY holdings
NBYStablecoin Development Corp
Stablecoin Development reported third-quarter net income of $50.4 million, or $0.23 per basic and diluted share, primarily due to a $58.8 million non-cash unrealized gain as the price of its core holding, SKY tokens, rose approximately 49%. Staking revenue totaled $2.1 million for the quarter. The company held 2.32 billion SKY tokens, representing about 10% of total supply, with a fair value of $180.2 million and no debt or warrant liabilities on its balance sheet. Subsequent to quarter-end, the company raised approximately $45.9 million in net proceeds through its at-the-market equity offering program. Stablecoin Development Corporation is an on-chain holding company focused on long-duration participation in protocol-aligned digital asset ecosystems.