Michael Kazley

Michael John Kazley is a digital-asset investor and operator. Public SEC filings state that he began his investment career at Goldman Sachs in 2013, co-founded Cedar Lake Capital Management LP in 2015, co-founded Crescent Crypto Asset Management in 2017, served as CEO of Crescent from 2019 to 2022, was a special limited partner at JDS Crypto LP from 2022 to 2023, and has served as Managing Member and General Partner of R01 Fund LP since 2023.

At Crescent Crypto, Kazley was part of a Goldman Sachs alumni founding team with Ali Hassan and Christopher Matta. Crescent described itself as 100% dedicated to digital asset investing, with early work in investable crypto indices and products. Its Crescent Crypto Market Index Fund sought to replicate a rules-based cryptocurrency market index covering the largest and most liquid cryptocurrencies, with monthly rebalancing and cold-storage custody.

In October 2025, after R01 Fund LP and Framework Ventures IV L.P. acquired NovaBay Pharmaceuticals securities, NovaBay appointed Kazley as CEO, Chairman, and director. The company later changed its name to Stablecoin Development Corporation and began trading on NYSE American under ticker SDEV in April 2026. SDEV’s strategy centers on acquiring and deploying operating digital assets in the stablecoin ecosystem, beginning with a strategic stake in Sky.

Kazley earned a B.S. in Industrial and Labor Relations from Cornell University. Cornell Athletics lists him as Michael John Kazley and a member of Cornell’s baseball team from 2010 to 2013.

• Kazley’s verified investment focus is digital assets, not broad generalist angel investing. His work spans crypto index funds, discretionary long-biased digital asset strategies, R01 Fund LP, and SDEV’s public-market stablecoin strategy.
• Crescent’s index strategy focused on large, liquid, custody-ready crypto assets: the Crescent Crypto Market Index used criteria including market cap, exchange liquidity, cold-storage eligibility, security considerations, and free-floating price.
• Crescent’s fund materials emphasized passive, rules-based access to crypto exposure, with the onshore fund available to U.S. accredited investors and qualified purchasers, a $50,000 minimum, weekly subscriptions/redemptions, and no performance fee.
• SDEV’s current thesis is stablecoin-centered. Kazley said the company’s name change reflected the view that “stablecoins represent the most compelling structural opportunity in digital finance.”
• SDEV’s strategy page says it is acquiring and building businesses in the stablecoin ecosystem, starting with Sky, and may expand into protocol-aligned markets, liquidity provisioning, market participation, and strategic investments across the stablecoin stack.
• SDEV states that it is not a short-term trading operation; its model is long-duration participation through staking, governance, validation, and network services.