Stablecoin Development Corp (SDEV) shares fell 92% after surging nearly 1,000% over a matter of weeks and now trade below $0.90, giving the company a market capitalization of $45 million. According to NS3.AI, Fugazi Research questioned the company’s foundations, including upcoming warrants that would dilute retail shareholders, and its short-seller report likely contributed to the decline. 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.