- FG Nexus sold 7,550 ETH, continuing a broader liquidation trend
- The firm has offloaded over 21,000 ETH at a steep loss
- Corporate ETH treasuries face mounting volatility risk
FG Nexus, the Nasdaq-listed firm formerly known as Fundamental Global, sold 7,550 ETH worth roughly $14 million on Wednesday. The transaction extends a pattern of disposals that sharply contrasts with the company’s earlier Ethereum accumulation strategy.
Blockchain data indicates the firm has now sold more than 21,000 ETH at an average price near $2,649. That figure sits approximately 31% below its original cost basis, highlighting the impact of Ethereum’s prolonged price decline.
From Accumulation to Liquidation
In mid-2025, FG Nexus raised $200 million through a private placement to launch an Ether-focused treasury strategy. The initiative attracted backing from major crypto investors, including Galaxy Digital, Kraken, Hivemind Capital, and Digital Currency Group.
The firm initially positioned itself as an Ethereum accumulation vehicle, even signaling plans to divest real estate holdings to expand its ETH reserves. However, as prices retreated from mid-2025 highs to below $2,000, the company reversed course and began selling into weakness.
Balance Sheet Under Pressure
As of December 17, FG Nexus reported holding more than 40,000 ETH alongside approximately $25 million in cash and USDC. Following recent sales, the firm now retains around 30,000 ETH valued at roughly $53 million at current prices.
Cumulatively, the treasury strategy has resulted in losses exceeding $80 million. Ethereum was trading near $1,919 at press time, up 5.5% in the last 24 hours, but still significantly below prior peak levels.
Corporate Crypto Risk in Focus
FG Nexus’s trajectory underscores the volatility risks inherent in concentrating corporate balance sheets in a single digital asset. While treasury strategies can amplify upside during bull markets, prolonged downturns expose companies to liquidity strain and shareholder scrutiny.
Ethereum remains the second-largest crypto asset by market capitalization, but price swings continue to challenge firms pursuing aggressive accumulation models. Corporate treasuries tied heavily to crypto must balance long-term conviction with risk management discipline.
What It Means for the Market
The ongoing sales may not dramatically shift Ethereum’s broader supply dynamics, but they highlight a shift in institutional posture. When treasury-focused firms move from accumulation to liquidation, it reflects changing confidence and capital preservation priorities.
As ETH trades below $2,000, market participants will watch whether corporate sellers stabilize holdings or continue trimming exposure amid macro and crypto volatility.
