According to ME News, on August 2 (UTC+8), SKY Treasury Company Stablecoin Development Corporation (NYSE: SDEV) recently released its second-quarter 2026 financial results. Second-quarter staking revenue amounted to $2.2 million, offset by a non-cash unrealized loss of $50.6 million due to the decline in SKY’s price, resulting in an operating loss of $53.8 million. For the first half of the year, total staking revenue reached $4.7 million, with an operating loss of $31.6 million. As of June 30, the company held approximately 2.2865 billion SKY tokens, representing about 10% of the total supply, with a cost basis of $147.2 million and a fair value of $119.2 million; the vast majority of these holdings were staked. During the second quarter, an additional 31.75 million SKY tokens were earned as staking rewards, bringing the cumulative staking rewards to 67.13 million tokens. The financial report disclosed that the company completed the cashless exercise of all outstanding warrants issued in October 2025 as of June 15, eliminating all warrant liabilities from its balance sheet. It has also relocated its headquarters from Emeryville, California, to West Palm Beach, Florida, to reduce fixed costs. As of July 27, the company’s SKY holdings increased to approximately 2.29617 billion tokens, with a market value of approximately $128 million based on a price of around $0.056 per token at that time. The company emphasized that no SKY tokens were sold during the second quarter. Additionally, the report cited data from the Sky ecosystem, indicating that the annualized revenue run rate of the Sky Protocol is approximately $419 million. The protocol recorded a net surplus of approximately $29.9 million in the second quarter (compared to a net loss of $8.2 million in the same period last year), with protocol reserves reaching approximately $82.5 million. The supply of the USDS stablecoin increased to approximately $10 billion, representing a year-over-year growth of about 97%. (Source: Foresight News)
SDEV Q2 staking revenue reaches $2.2M, SKY holdings reach 10% of total supply
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Summary
SDEV's Q2 staking revenue reached $2.2M, with altcoins to watch showing mixed performance. The company’s SKY holdings now account for 10% of the total supply, reaching 228.65 million tokens. Staking added 31.75 million SKY in Q2, bringing the total to 67.13 million. A $50.6M unrealized loss resulted from the SKY price decline. The company also exercised all 2025 warrants and relocated its headquarters to reduce costs. Market sentiment remains cautious, with the Fear & Greed Index hovering near neutral.
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