---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-26-025172"
form_type: "8-K"
ticker: "SDEV"
cik: "0001389545"
company_name: "Stablecoin Development Corp"
filed_at: "2026-07-31T12:44:43+00:00"
generated_at: "2026-07-31T12:50:23.034508+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# SDEV reports Q2 staking revenue $2.2M, operating loss $53.8M on $50.6M unrealized loss; SKY holdings 2.29B tokens

## Summary
- Staking revenue of $2.2M in Q2 2026, $4.7M in H1 2026; earned 31.7M SKY in staking rewards during the quarter.
- Operating loss of $53.8M driven by $50.6M non-cash unrealized loss on SKY tokens; no tokens were sold.
- Held 2.29B SKY tokens (~10% of total supply) as of June 30, 2026; fair value $119.2M, cost basis $147.2M.
- Eliminated all outstanding October 2025 Pre-Funded Warrants via cashless exercise, simplifying capital structure.
- Relocated headquarters to West Palm Beach, FL, terminating California lease to reduce occupancy costs.

## SEC filing metadata
- accession: 0001437749-26-025172
- form_type: 8-K
- ticker: SDEV
- cik: 0001389545
- company_name: Stablecoin Development Corp
- filed_at: 2026-07-31T12:44:43+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1389545/000143774926025172/0001437749-26-025172-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1389545/000143774926025172/nby20260729_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-26-025172
- JSON: https://secwatch.observer/filing/0001437749-26-025172.json
- Plain text: https://secwatch.observer/filing/0001437749-26-025172.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.