NovaBay Pharmaceuticals has now focused fully on crypto. The company has changed its name to Stablecoin Development Corporation. It is putting a lot of money into digital assets.
It has collected $134 million and used most of it to buy SKY tokens, which are connected to a DeFi protocol. The firm now has 9% of all the tokens, making it a major player in this area.
The company is also earning tokens by staking its tokens, which will add up over time. This shows a change from old business models to making money with blockchain.
This move is part of a growing trend where companies from different industries are getting into the crypto space. Such a big shift also has risks, especially in a market that can be very unpredictable.
Still, the company seems to be sure that stablecoins and DeFi will be important for the future of money.
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