---
title: "Crypto Treasuries Under Fire as SPAC Mergers Test Six Special-Theme Stocks"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/303532096.md"
description: "SDEV.US faces scrutiny over crypto asset concentration; NAKA.US pivots after 99% crash; MACI.US clears SPAC merger vote; ZONE.US and NNOX.US grapple with operational shifts; TREX.US maintains growth amid volatility."
datetime: "2026-10-29T09:19:10.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/303532096.md)
  - [en](https://longbridge.com/en/news/303532096.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/303532096.md)
generator: "portal-rs"
---

# Crypto Treasuries Under Fire as SPAC Mergers Test Six Special-Theme Stocks

Crypto-themed stocks face mounting pressures. Stablecoin Development Corporation (SDEV.US) came under fire from Fugazi Research in early October, which criticized its 94% asset concentration in SKY tokens, triggering sharp price declines. Nakamoto Inc (NAKA.US) is attempting a post-99% crash pivot toward media services and asset management, yet reported USD 372 million in first-half losses. In the SPAC arena, Melar Acquisition Corp. I (MACI.US) secured shareholder approval for its merger with Italian grocery platform Everli Global, though pre-closing volatility reflects broader SPAC skepticism. Traditional firms undergoing radical shifts include Zone Frontier Inc (ZONE.US), which sold its cleaning division to focus on Texas AI data centers but faces USD 174.16 million in annual losses; and Nano-X Imaging Ltd (NNOX.US), whose TIME award-winning medical scanners are overshadowed by Nasdaq’s minimum price warning. Only Trex Company Inc (TREX.US), with 8% sales growth and a USD 150 million buyback, stands as a rare anchor of stability in this volatile cohort.

### Related Stocks

- [SDEV.US](https://longbridge.com/en/quote/SDEV.US.md)
- [MACI.US](https://longbridge.com/en/quote/MACI.US.md)
- [NAKA.US](https://longbridge.com/en/quote/NAKA.US.md)
- [ZONE.US](https://longbridge.com/en/quote/ZONE.US.md)
- [NNOX.US](https://longbridge.com/en/quote/NNOX.US.md)
- [TREX.US](https://longbridge.com/en/quote/TREX.US.md)

## Related News & Research

- [Nano-X Imaging Postpones Shareholder Meeting by One Week to November 25, 2026](https://longbridge.com/en/news/305331927.md)
- [Nanox Announces Distribution Agreement with Medworks for Nanox.AI in Greece | NNOX Stock News](https://longbridge.com/en/news/305466683.md)
- [Nano-X Imaging Names Erez Alroy Board Chairman](https://longbridge.com/en/news/305331958.md)
- [Nanox Announces That Board Has Approved Cost Reduction And Operational Efficiency Measures](https://longbridge.com/en/news/304924622.md)
- [Nano-X Imaging Signs Deal for Up to $40 Million in Private Share Sales](https://longbridge.com/en/news/305370879.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**