$1.6 billion Ether Machine SPAC deal collapses over unfavorable market

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email $1.6 billion Ether Machine SPAC deal collapses over unfavorable market The Ether Machine, an ether treasury firm, currently has more than $1 billion in ether in its treasury. By Francisco Rodrigues | Edited by Nikhilesh De Apr 11, 2026, 4:58 p.m. Make preferred on What to know : The $1.6 billion SPAC merger between Dynamix Corporation (DYNX) and The Ether Machine was terminated due to unfavorable market conditions, The Ether Machine said. Dynamix will receive a $50 million termination payment as the agreement unwinds. The Ether Machine, an ether treasury firm, currently has more than $1 billion in ether in its treasury. A planned $1.6 billion SPAC merger between Dynamix Corporation (DYNX) and crypto firm The Ether Machine has been terminated, over unfavorable market conditions, The Ether Machine said Friday . The agreement, first unveiled in July 2025, aimed to take ether (ETH) treasury firm The Ether Machine public on Nasdaq under the ticker ETHM. The company is designed to act as an Ethereum treasury and yield vehicle, generating returns through staking and decentralized finance strategies while holding large reserves of ether. It currently holds 496,712 ETH worth more than $1.1 billion, according to CoinGecko data. Initially, the deal stood out for its scale. It included a $1.5 billion fully committed PIPE financing deal, described as the largest all-common-stock raise of its kind since 2021, alongside roughly $170 million held in Dynamix’s trust account. The combined company was expected to launch with more than 400,000 ETH on its balance sheet, backed in part by a contribution from co-founder Andrew Keys. The merger has now been called off due to what the companies described as unfavorable market conditions. According to The Ether Machine, the two firms "mutually agreed to terminate" the deal. As part of the termination agreement, Dynamix will receive a $50 million payment within 15 days, according to a filing with the U.S. Securities and Exchange Commission (SEC). Ethereum News More For You Encryption Supremacy: Zcash and Privacy in the Age of Scale By CoinDesk Research Mar 31, 2026 Commissioned by GenZcash Most crypto privacy models weaken as blockchain data grows. Encryption-based models like Zcash strengthen. CoinDesk Research maps the five privacy approaches and examines the widening gap. Why it matters : As blockchain adoption scales, the metadata available to machine learning models scales with it. Obfuscation-based privacy approaches are structurally degrading as a result. This report provides a comprehensive comparison of all five major crypto privacy architectures and a framework for evaluating which models remain durable as AI capabilities improve. View Full Report More For You Iran war oil-price shock revives inflation trade and a new stablecoin play By Will Canny , AI Boost | Edited by Sheldon Reback 59 minutes ago As oil shocks revive investor anxiety, stablecoins solved payments, but not purchasing power, says Michael Ashton, who's USDi token aims to fix that. What to know : USDi, co-founded by Michael Ashton and Andrew Fately, is an inflation-linked stablecoin designed to preserve purchasing power rather than track a nominal dollar. Ashton argues stablecoins solved payments, but failed to provide a true store of value, leaving crypto’s monetary system incomplete. The token could enable customized inflation hedging across... Read full story Latest Crypto News Bitcoin, broader market flat as U.S.-Iran negotiations begin 33 minutes ago Iran war oil-price shock revives inflation trade and a new stablecoin play 59 minutes ago Crypto perpetuals predict the direction of Wall Street’s Monday open with 89% accuracy, data shows 2 hours ago Crypto Clarity bill has 30% chance of passing this year, Wintermute’s Hammond says 2 hours ago Bitwise files updated S-1 for Hyperliquid ETF as HYPE fund race heats up 3 hours ago The bitcoin market is splitting in two. Here's who is buying and selling amid the war 4 hours ago Top Stories Bhutan has sold 70% of its bitcoin in 18 months. It may have stopped BTC mining too. 14 hours ago Federal judge blocks Arizona from bringing criminal charges against Kalshi 17 hours ago Trump-backed WLFI token drops 12% to record lows after team defends multi-million lending position Apr 10, 2026 Star Xu calls CZ a ‘liar’ as founders of world’s largest crypto exchanges argue over past allegations Apr 10, 2026 Binance offers UAE staff temporary relocation as Middle East conflict disrupts region Apr 10, 2026 Bitcoin gains after core CPI rose a less-than-forecast 0.2% in March. Apr 10, 2026