Market Updates: Stack BTC Buys 37 Bitcoin for UK MP Nigel Farage; American Musician Loses $420K BTC in Fake Ledger App Scam; Ether Machine Drops SPAC Deal

Latest Market Updates: As of 13th April 2026.

Stack BTC Expands Bitcoin Holdings Through Nigel Farage Purchase

In a latest development, UK-based Bitcoin treasury firm Stack BTC, led by former Chancellor Kwasi Kwarteng, has confirmed a new acquisition linked to Nigel Farage.

The company purchased 37 BTC, worth approximately £2 million, on behalf of Farage. With this transaction, Stack BTC’s total holdings have increased to 68 BTC.

In a post on X, the firm described Farage as the first sitting MP and UK party leader to have publicly disclosed acquiring Bitcoin.

This development follows an earlier investment made by Farage roughly one month ago, when he reportedly invested £215,000 in Stack BTC through his media company, Thorn In The Side Ltd. That investment gave him an estimated 6.3% stake in the firm.

BREAKING: Nigel Farage has purchased £2m of Bitcoin for Stack BTC – becoming the first sitting MP and the first UK political party leader in history to publicly buy Bitcoin.

A landmark moment for Bitcoin in British politics.$STAK @Nigel_Farage @blockchain @kwasi_stackbtc… pic.twitter.com/O614kKe5TN

— Stack BTC (@stackbtc_) April 13, 2026

Capital B Adds More Bitcoin to Corporate Treasury

In a parallel move, Capital B has further expanded its Bitcoin treasury, acquiring 37 BTC for approximately €2.3 million.

This latest purchase brings the company’s total holdings to 2,925 BTC, reinforcing its position as one of Europe’s largest corporate Bitcoin treasuries. The firm, listed on Euronext Growth in France, continues to prioritize Bitcoin accumulation as a core strategy.

Additionally, Capital B reported a year-to-date Bitcoin yield of 1.25% and a net gain of 35.3 BTC.

The acquisition was funded through a combination of convertible bond conversions and new share issuance. It includes participation from Blockstream Capital Partners and UTXO Management.

The company’s average purchase price now stands at €92,096 per Bitcoin, bringing its total investment cost to €269.4 million.

Musician Loses $420K in Fake Ledger App Scam

While institutional accumulation continues, a separate incident highlights persistent security risks in the crypto sector.

American musician Garrett Dutton, known as “G. Love,” reportedly lost his entire Bitcoin retirement savings after falling victim to a malicious application. 

He is said to have lost 5.9 BTC, worth approximately $420,000, after downloading a fake Ledger Live app and entering his seed phrase. His funds were subsequently drained.

The stolen Bitcoin had been accumulated over nearly a decade, making the loss particularly significant.

Blockchain investigator ZachXBT confirmed the theft and traced the movement of funds to KuCoin-linked deposit addresses across multiple transactions.

Hi I traced out your 5.92 BTC stolen and it was all laundered via @kucoincom deposit addresses in the following transactions:

6f5c8eb6b01774626f33527e0cb03c0d1860447acacd6079e69bf41b459bcf1f
9ee1288f941b2c3775ebd125eefeebdc713aa160bf2cf9d18661fd07f84ce891…

— ZachXBT (@zachxbt) April 12, 2026

Digital Asset Funds See $1.1 Billion in Weekly Inflows

Despite ongoing security concerns, investor demand for digital assets strengthened significantly last week.

Investment products recorded $1.1 billion in inflows, the highest since January 2026, according to CoinShares data. Bitcoin led the trend with $871 million in inflows, accounting for nearly 80% of the total.

Ethereum attracted $197 million. Meanwhile, XRP saw $19 million in inflows. Short Bitcoin products also gained traction, recording $20 million in inflows — the highest since late 2024 — suggesting a more cautious but active trading stance.

The surge in inflows follows softer US inflation data and easing geopolitical tensions, both of which improved overall risk sentiment. Year-to-date inflows into Bitcoin products have now exceeded $2 billion.

Ether Machine Ends SPAC Merger Plan Amid Market Uncertainty

In a final major development, Ether Machine has withdrawn from its planned public listing after mutually terminating its SPAC merger with Dynamix Corporation.

The proposed deal would have taken the Ethereum-focused treasury company public via a Nasdaq-listed SPAC structure. However, weakening market conditions ultimately led both parties to abandon the agreement.

Following the termination, the deal includes a $50 million payment obligation, reportedly due within 15 days to Dynamix Corporation. The payer has not been publicly identified in confidential filings.