FG Nexus Debuts with $200M Raise and Ether Treasury Strategy on Ethereum's 10th Birthday

Nasdaq-listed Fundamental Global (FGF) is rebranding to FG Nexus and entering the integer plus abstraction with a $200 cardinal backstage placement to motorboat an ether-based treasury strategy, the institution said successful a press release Wednesday

The offering, composed of 40 cardinal prefunded warrants priced astatine $5, was backed by a slate of high-profile strategical investors, including Galaxy Digital, Kraken, Hivemind Capital, Syncracy Capital, Digital Currency Group, and Kenetic, the institution said.

Galaxy volition service arsenic a strategical advisor, managing treasury and staking infrastructure, portion Kraken volition enactment staking operations.

The institution plans to usage the proceeds to accumulate ether (ETH) arsenic its superior reserve asset, generating staking rewards and enabling vulnerability to tokenized real-world assets.

FG Nexus is among the increasing database of organization players betting connected Ethereum arsenic the colony furniture of the future. Other nationalist companies specified arsenic SharpLink Gaming (SBET), BitMine Immersion (BMNR), and Bit Digital (BTBT) person each precocious announced ether treasury strategies.

FG Nexus enactment includes Joe Moglia, erstwhile TD Ameritrade CEO and Fundamental Global co-founder, who joins arsenic enforcement advisor. The integer plus strategy volition beryllium led by aboriginal blockchain pioneer Maja Vujinovic.

New ticker symbols FGNX and FGNXP are expected to spell unrecorded pursuing the closing of the offering connected oregon astir August 1.

Singapore-based mining hardware shaper Canaan (CAN) besides announced a caller treasury strategy that designated bitcoin {BTC} arsenic its superior semipermanent reserve asset, the company said connected Wednesday.

While bitcoin volition stay the centerpiece, Canaan’s argumentation allows for the occasional acquisition of different crypto assets, including ether and Genius Act–compliant U.S. dollar stablecoins.

Bitcoin accumulated done mean concern activities, including self-mining and the merchantability of mining equipment, volition beryllium retained connected a semipermanent basis, the Nasdaq-listed institution said.

Read more: Ether Treasury Companies to Eventually Own 10% of Supply: Standard Chartered