U.S. pharmaceutical company NovaBay Pharmaceuticals announced a rebrand to Stablecoin Development Corporation and changed its stock ticker from NBY to SDEV, marking a business pivot from the medical sector to cryptocurrency and stablecoin development. The company previously completed $134 million in private financing and established SKY token holdings, currently holding approximately 2.06 billion SKY tokens, representing about 8.78% of total supply. The company has begun staking its SKY tokens and has accumulated approximately 26.6 million in rewards to date. (CoinDesk)

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