Sky Inc. reported a $5 million loss in Q1 2025, contrasted against a $31 million profit in the prior quarter, primarily due to increased interest payments related to its new stablecoin, Sky Dollar (USDS).
This loss highlights a significant shift in financial strategy, focusing on user adoption for USDS through higher incentives, which led to a 102% increase in interest expenses.
Market analysts are monitoring Sky's financial pathways as the total crypto market capitalization fell by 18.6% during the same quarter, signaling challenges in the cryptocurrency landscape.
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