Stablecoin Development Corp (SDEV) shares surged nearly 1,000% and then fell 92% in a matter of weeks. The stock now trades below $0.90, giving the company a market capitalization of $45 million. Fugazi Research questioned the company's foundations, including upcoming warrants that would dilute retail shareholders. The short-seller report likely contributed to the decline, although the reasons for the rapid rise and fall remain unclear. Tether's warrants became eligible for exercise on October 16, but no new SEC filings or documents discussing new ownership percentages have been recorded.