Nasdaq-Listed FG Nexus Ends Ethereum Treasury Strategy After $45.2 Million Loss

FG Nexus has exited cryptocurrency entirely, unwinding an Ethereum position that once topped 50,000 ETH after its discontinued digital-asset operations accumulated a $45.207 million loss.

The Nasdaq-listed company completed the disposal of its digital assets by June 30, leaving no cryptocurrency on its balance sheet at quarter-end. The exit brought its Ethereum treasury strategy to a close less than a year after it began. 

ETH disposals generated $60.956 million in cash during the first half, while $14.983 million due from the sales was subsequently collected in July. 

The discontinued digital-asset operations included a $41.167 million loss on ETH holdings. Staking generated $144,000 in revenue.

With the crypto strategy wound down, FG Nexus plans to deploy capital into real estate, including land-lease manufactured housing properties. The proposed transaction remains at a preliminary stage, and no definitive agreement has been signed.

Source: FG Nexus(Form 10-Q)