FG Nexus Rebrands and Launches $200 Million Ether Treasury Strategy

Fundamental Global (FGF) is rebranding to FG Nexus and plans to enter the digital asset sector with a $200 million private placement for an ether-based treasury strategy. Key details include:

The offering consists of 40 million prefunded warrants priced at $5.
Investors include Galaxy Digital, Kraken, Hivemind Capital, Syncracy Capital, and Digital Currency Group.
Galaxy will advise on treasury management and staking infrastructure; Kraken will handle staking operations.
Proceeds will be used to acquire ether (ETH) as the main reserve asset, focusing on generating staking rewards and tokenized real-world asset exposure.
FG Nexus joins other institutional players like SharpLink Gaming, BitMine Immersion, and Bit Digital in adopting ether treasury strategies.
Leadership includes Joe Moglia as executive advisor and Maja Vujinovic leading the digital asset strategy.
New ticker symbols FGNX and FGNXP are expected to launch around August 1.

Additionally, Canaan (CAN) announced a treasury strategy with bitcoin as its primary long-term reserve asset, allowing for occasional acquisitions of ether and U.S. dollar stablecoins.