FG Nexus Is the Latest Ethereum Treasury Firm to Sell ETH as Its Stock Craters

Shares in publicly traded Ethereum treasury firm FG Nexus (FGNX) finished the day down more than 7% following word that the firm dumped a portion of its Ethereum holdings to buy back shares.  Formerly known as Fundamental Global, the firm raised $200 million via a private placement in July to kick-start its Ethereum treasury strategy. It acquired more than 50,000 ETH by the end of September, but has since offloaded 10,922 ETH—about $31.3 million worth at today’s price—using the proceeds to accelerate share ...