DeFi· ★★★· bullish·

Sky posts $30.8M revenue as Galaxy adds $100M sUSDS and first SKY burn begins

  • —September gross revenue hit $30.8M; net revenue was $12.32M versus a $5.41M loss a year earlier
  • —First Stage 2 burn removed 2.86M SKY bought on the open market from circulation
  • —Galaxy allocated $100M to sUSDS and approved it as collateral for institutional loans
  • —The $500M Grove-Galaxy credit facility is 75% utilized, financing $375M in loans
Why it matters: The update shows Sky swinging to profit with real buybacks, reinforcing the yield-bearing stablecoin narrative and drawing institutional capital into sUSDS.
#SKY
Source: crypto.news
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