Nasdaq-listed Fundamental Global (FGF) has announced its rebranding to FG Nexus as it makes a significant entry into the digital asset sector through a $200 million private placement focused on an ether-based treasury strategy. The company revealed this strategic pivot in a press release issued Wednesday.
The fundraising round consists of 40 million prefunded warrants, each priced at $5, and attracted backing from several prominent strategic investors in the crypto space. These investors include Galaxy Digital, Kraken, Hivemind Capital, Syncracy Capital, Digital Currency Group, and Kenetic.
JUST IN: 🇺🇸 Publicly traded FG Nexus raises $200,000,000 for $ETH treasury strategy. pic.twitter.com/nLctNR1aHY
— Whale Insider (@WhaleInsider) July 30, 2025
Strategic Partnerships and Leadership
Galaxy Digital will take on a strategic advisory role, handling treasury management and staking infrastructure for the company. Meanwhile, Kraken will provide support for staking operations, creating a comprehensive infrastructure framework for FG Nexus’s digital asset strategy.
The company intends to deploy the raised capital to build up ether (ETH ($3,795.77)) holdings as its main reserve asset. This approach aims to generate staking rewards while also providing exposure to tokenized real-world assets.
FG Nexus joins a growing number of institutional players placing their bets on Ethereum’s potential as the settlement layer for future financial infrastructure. Several other publicly traded companies have recently adopted similar ether treasury strategies, including SharpLink Gaming (SBET), BitMine Immersion (BMNR), and Bit Digital (BTBT).
Management Team and Timeline
The leadership team features Joe Moglia, who previously served as CEO of TD Ameritrade and co-founded Fundamental Global, now taking on the role of executive advisor. The company’s digital asset strategy will be overseen by Maja Vujinovic, recognized as an early pioneer in blockchain technology.
New ticker symbols FGNX and FGNXP are scheduled to become active after the offering closes, which is expected to occur on or around August 1.
In related corporate treasury news, Singapore-based mining hardware manufacturer Canaan (CAN) revealed its own treasury strategy on Wednesday, designating bitcoin (BTC ($118,395.00)) as its primary long-term reserve asset. While bitcoin serves as the cornerstone of Canaan’s approach, the policy permits occasional acquisitions of other crypto assets, including ether and Genius Act-compliant U.S. dollar stablecoins.
The Nasdaq-listed company stated that bitcoin acquired through regular business operations, such as self-mining activities and mining equipment sales, will be held on a long-term basis.
Broader Market Implications
The simultaneous announcements from both FG Nexus and Canaan reflect a continued institutional shift toward cryptocurrency treasury adoption. These moves demonstrate how traditional companies are increasingly viewing digital assets as viable long-term reserve options.
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