Fundamental Global rebrands as FG Nexus and raises $200 million to build an Ethereum-based treasury.
Fundamental Global, a publicly traded investment firm on Nasdaq, is charting a new course in the digital asset sector with a rebrand to FG Nexus and a fresh $200 million in funding to drive its crypto-focused initiatives.
The capital was secured through a private placement. This involved 40 million prefunded warrants, each valued at $5.
Notably, this financing round drew participation from some of the most reputable firms and investors in the crypto space. Among the prominent names were Galaxy Digital, Kraken, and four other participating firms.
These backers bring deep expertise in blockchain technology and strategic insight. Their support will play a key role in advancing FG Nexus’s growth and expansion plans.
FG Nexus intends to use the offering proceeds to acquire Ethereum tokens, establishing it as the company’s primary reserve asset. Interestingly, this move comes amid Ethereum’s 10th anniversary. The firm aims to earn staking rewards through its ETH holdings while also exploring opportunities in tokenized real-world assets.
As part of the strategy rollout, Galaxy Digital will provide strategic advisory services and oversee treasury and staking infrastructure. Meanwhile, Kraken will help drive the company’s staking operations.
FG Nexus Taps Veteran Finance and Crypto Leaders
The newly rebranded organization will be led by experienced leadership. Joe Moglia, ex CEO of TD Ameritrade and co-founder of Fundamental Global, will take on the role of Executive Advisor. Additionally, Maja Vujinovic, a recognized expert in the blockchain space, will spearhead the company’s digital asset strategy.
The new ticker symbols, FGNX and FGNXP, are scheduled to begin trading shortly after the offering closes around August 1.
Institutional Interest in Ethereum Heats Up
FG Nexus is the latest in a wave of publicly listed companies adopting Ethereum-centric treasury strategies. It joins the ranks of firms like BitMine Immersion, SharpLink Gaming, and Bit Digital.
Earlier today, SharpLink Gaming acquired 11,259 ETH at $3,828 per token, totaling $43 million. This latest purchase makes it the second-largest publicly listed ETH holder, behind BitMine, which currently holds 625,000 ETH valued at around $2.41 billion.
As previously reported by The Crypto Basic, The Ether Machine purchased around 15,000 ETH at an average cost of $3,810, worth $57 million. This latest investment increases its overall ETH holdings to 334,757, ranking it as the third-largest holder among publicly traded entities.
Overall, the moves highlight the growing institutional belief in Ethereum’s role as a foundational layer for future financial systems, particularly in decentralized finance.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
