SDEVNYSEFinance ServicesUS GAAP · USD

Stablecoin Development Corp

Stablecoin Development Corp is a U.S.-based public company organized around evaluating and developing opportunities in decentralized financial infrastructure and blockchain-based assets. Its reported activities center on stablecoin-related and other digital-asset strategies, including staking, restaking, liquid staking, and related treasury and compliance infrastructure.

Liikevoitto (EBIT)−8,4milj. USD
−14,4 %v/v
Nettotulos−631milj. USD
−8 632,9 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−20−1001020milj. USD2020: 9,9 milj. USD2020: EBIT −6,4 milj. USD20202021: 10 milj. USD2021: EBIT −8,9 milj. USD20212022: 14 milj. USD2022: EBIT −14 milj. USD20222023: 10 milj. USD2023: EBIT −4,1 milj. USD20232024: 9,8 milj. USD2024: EBIT −7,4 milj. USD20242025: EBIT −8,4 milj. USD2025−8,4
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Blockchain-based asset strategy40 %

Evaluation and deployment of capital into blockchain-based assets and related network markets.

Staking and restaking25 %

Participation in proof-of-stake networks to earn protocol rewards through staking activities.

Liquid staking and DeFi activities20 %

Use of decentralized finance protocols and liquid staking structures tied to digital assets.

Treasury and custody infrastructure15 %

Operational systems for holding, securing, and managing blockchain-based assets.

Tuotteet

Raportoitu · osuus liikevaihdosta
88,7%11,0%FY2024100 %
  • Avenova Spray88,7 %
  • Other Products11,0 %
  • Other0,3 %

Lähde: 10-K FY2024, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

The company does not appear to sell a traditional commercial product set; instead, its activities are oriented toward deploying capital and operating within blockchain-based networks and protocols. Its counterparties and ecosystem participants are likely to include exchanges, validators, custodians, protocol operators, and other digital-asset infrastructure providers. Any future monetization would depend on participation in decentralized networks rather than a conventional end-customer sales base.

Digital-asset ecosystem counterparties

Exchanges, custodians, validators, and protocol operators used to access, secure, and transact blockchain-based assets.

Network participants

Blockchain networks and DeFi protocols that the company may use for staking, restaking, and liquidity activities.

Capital providers

Private investors and financing counterparties that fund the company’s treasury and asset strategy.

Strategia

The company’s stated direction is to evaluate a shift toward decentralized financial infrastructure and blockchain-based assets, including staking-related activities. That strategy requires building technical, security, treasury, and compliance capabilities that are materially different from a conventional operating business.

Build operating infrastructure for digital-asset activitiesLyhyt aikaväli

Staking and related activities require technical, security, and treasury systems that the company must establish before scaling.

Assess blockchain-based asset opportunitiesLyhyt aikaväli

The company is still evaluating which assets or protocols fit its strategy and risk framework.

Maintain regulatory and listing complianceKeskipitkä aikaväli

Public-company approval and evolving digital-asset rules can determine whether the strategy can be executed.

Maantiede

The company is headquartered in the United States and is exposed primarily to U.S. regulatory and market conditions. Because blockchain-based assets trade on global networks and platforms, its operational footprint can extend beyond the U.S. through exchanges, custodians, and protocols located in multiple jurisdictions.

Riskit

The company faces substantial execution risk because its proposed blockchain strategy depends on specialized infrastructure, constant system uptime, and third-party crypto market plumbing. It also faces high regulatory, custody, cybersecurity, and liquidity risk because digital-asset rules remain unsettled and trading venues can be volatile or restricted.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Regulatory and legal uncertainty1Strategy execution failure2Cybersecurity and custody loss3Liquidity and market-price volatility4Operational uptime and protocol change risk5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Regulatory and legal uncertaintyVaikutus: KriittinenTodennäköisyys: Kohtalainen

    Digital assets may be subject to securities, commodities, AML, sanctions, or tax actions.

    Kohdistuu: United States and foreign jurisdictions

  2. Strategy execution failureVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The company is evaluating a new operating model that requires new skills, systems, and approvals.

    Kohdistuu: Blockchain-based asset strategy

  3. Cybersecurity and custody lossVaikutus: KorkeaTodennäköisyys: Kohtalainen

    On-chain assets depend on private key management, third-party providers, and platform security.

    KohdistuuExchangesCustodiansDeFi protocols
  4. Liquidity and market-price volatilityVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Blockchain assets can trade on thin or unstable markets and may be hard to convert to fiat.

    Kohdistuu: Digital-asset treasury holdings

  5. Operational uptime and protocol change riskVaikutus: KeskitasoTodennäköisyys: Matala

    Staking rewards and network participation can be affected by downtime, upgrades, or penalties.

    Kohdistuu: Staking and restaking operations

Kirjanpito

Harkinnanvaraiset erät
Digital-asset valuation and impairment

Blockchain-based assets may require fair value or impairment-style treatment depending on the asset and accounting framework.

Vaikutus: Can materially affect reported assets and earnings

Preferred stock and warrant accounting

Series D, Series E, and pre-funded warrants create complex equity and dilution accounting.

Vaikutus: Affects balance sheet classification and EPS dilution

Convertible securities

Large conversion rights can change share count and require careful treatment of embedded features.

Vaikutus: Impacts diluted share count and capital structure

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.9.2026

Stablecoin Development Corp (NYSE) – Finance Services | Analyysi – Clarifo