- FG Nexus secures $200 million through a private placement to position Ethereum as its core treasury reserve and staking asset.
- Galaxy Digital and Kraken join as strategic partners to manage ETH treasury, staking rewards, and yield execution for FG Nexus.
- A leadership team with crypto-first experience is set to guide FG Nexus as it integrates Ethereum into its financial and operational ecosystem.
Ethereum treasury strategy takes a step forward as FG Nexus, formerly Fundamental Global (Nasdaq: FGF), secures $200 million in a private placement. The funds will be used to acquire Ethereum and launch a full-scale reserve program.
Nasdaq-Listed FG Nexus Moves Into Digital Assets
The company confirmed it will rebrand to FG Nexus Inc., with new tickers FGNX and FGNXP to follow. The offering, priced at $5.00 per warrant, includes the purchase of 40 million prefunded common stock warrants. It is expected to close around August 1, 2025.
FG Nexus will adopt Ethereum as its primary reserve asset for the treasury. The funds will support ETH purchases and staking operations, offering exposure to yield generation while supporting blockchain infrastructure. According to the official statement, part of the raise was funded through a mix of cash and crypto.
FG Nexus is positioning itself as a capital markets vehicle aligned with Ethereum’s role in stablecoin transactions, tokenized assets, and DeFi protocols. The company aims to provide value from ETH appreciation, staking rewards, and access to blockchain-powered financial solutions.
Institutional Investment Anchors ETH Strategy
The treasury strategy attracted high-level institutional support. Galaxy Digital (Nasdaq: GLXY), led by Mike Novogratz, participated in the raise and will manage FG Nexus’s Ethereum holdings. Galaxy will also provide advisory services across staking, asset management, and execution.
Kraken will support staking operations and treasury management. Other contributors include Syncracy Capital, Digital Currency Group (DCG), Hivemind Capital, and Kenetic. These institutions bring both capital and operational experience, further anchoring Ethereum’s position in public finance.
FG Nexus now joins other public companies such as Bit Digital (BTBT), SharpLink Gaming (SBET), and BitMine Immersion (BMNR) that recently adopted Ethereum treasury strategies.
Seasoned Team to Lead ETH-Focused Expansion
Maja Vujinovic will serve as CEO of Digital Assets at FG Nexus. Her experience spans blockchain strategy at GE and early roles in Tether’s growth. She brings two decades of digital innovation across finance and crypto.
Theodore Rosenthal joins as President of Digital Assets. He previously led TMR Capital and advised on over $2 billion in family office investments, with early entries into crypto projects like Aave and Maker.
Jose Vargas will lead business development. With a track record of five company exits and multiple blockchain investments, Vargas has helped scale both fintech and digital asset firms.
