According to ME News, on April 15th (UTC+8), BBX Crypto Concept Stock Information reported two noteworthy developments in the cryptocurrency treasury listed companies sector: French listed company Capital B completed a new round of BTC acquisition; meanwhile, US-listed shell company Dynamix Corporation (NASDAQ: ETHM) and EtherMachine officially confirmed the termination of their $1.6 billion merger agreement on April 8th, thus dashing EtherMachine's Nasdaq listing plans.
[Key News Update]
- Capital B (Euronext Growth Paris: ALCPB) disclosed on April 13 that it purchased 37 BTC at an average price of approximately €60,892 per BTC (approximately $66,800) , for a total consideration of approximately €2.3 million. The funds were obtained from the conversion of convertible bonds issued by Blockstream Capital Partners and UTXO Management. As of the announcement date, the company held a total of 2,925 BTC , with a total acquisition cost of approximately €269.4 million and an average holding price of approximately €92,096 per BTC. The company also disclosed that it holds 60 BTC solely for operational purposes and these are not included in the national treasury KPI.
- Dynamix Corporation (NASDAQ: ETHM) and The Ether Machine confirmed through SEC 8-K on April 8 that they have agreed to terminate the $1.6 billion business merger agreement signed on July 21, 2025. The Ether Machine is required to pay Dynamix a breakup fee of $50 million within 15 days of April 8; Dynamix must complete a new business merger by November 22, 2026 , or face liquidation. The Ether Reserve LLC (the operating entity of The Ether Machine) currently holds approximately 496,712 ETH, remains private, and has no plans for a new listing.
- Background to the failure of the Ethereum Machines SPAC: When the merger plan was announced (July 2025), ETH was around $4,000; currently, ETH is around $2,300, about 55% lower than its all-time high in August 2025. The premium of crypto Treasury companies relative to NAV has narrowed significantly, and the risk appetite for crypto assets in the SPAC market has declined significantly. This is the second high-profile crypto SPAC merger to fail since 2026. (Source: ME)
