Stablecoin Development Corporation (SDEV), formerly known as NovaBay Pharmaceuticals, has invested over $100 million in SKY tokens following a strategic pivot from healthcare to cryptocurrency. The Nasdaq-listed company raised approximately $134 million in a private financing round, with contributions from Framework Ventures and Tether Investments. SDEV now holds about 2.06 billion SKY tokens, valued at $147 million, representing 8.78% of the total supply. The company acquired these tokens through secondary market purchases and financing considerations, and has begun staking them, earning 26.6 million SKY in rewards.