Nasdaq-Listed Fundamental Global (FGF) conversion to FG Nexus and enters the digital asset space with a private ranking of $ 200 million to launch an Ether-Based Treasury Strategy, the company said in a press release on Wednesday
The offer, which consists of 40 million prefined warrants, priced at $ 5, was supported by a slate of high -profile strategic investors, including Galaxy Digital, Kraken, Hivemind Capital, Syncracy Capital, Digital Currency Group and Kenetic, the company says.
Galaxy will act as a strategic adviser, manage the treasury and stacking infrastructure, while Kraken will support efforts operations.
The company plans to use the proceeds to accumulate Ether (ETH) as its primary reserve assets, which generates poor wages and enables exposure to tokenized assets in the real world.
FG Nexus is among the growing list of institutional players who are investing in Ethereum as the future settlement layer. Other public companies such as Sharplink Gaming (SBet), Bitmine Immersion (BMNR) and Bit Digital (BTBT) have all recently announced Etheraming Strategies.
FG NEXUS LEADERSHIP includes Joe Moglia, former TD Ameritrade CEO and basic global co -founder who joins as a performing advisor. The digital asset strategy is led by the early blockchain pioneer Maja Vujinovic.
New ticker symbols FGNX and FGNXP are expected to go live after the end of the offer on August 1 or around August 1st.
Singapore-based mining hardware manufacturer Canaan (CAN) also announced a new Treasury Strategy that appointed Bitcoin {BTC} as its primary long-term reserve assets, the company said Wednesday.
While Bitcoin remains the centerpiece, Canaan’s policy allows for the occasional acquisition of other crypto assets, including Ether and Genius Act – compatible US dollar stableecoins.
Bitcoin accumulated through normal business activities, including self-mining and sale of mining, will be preserved in the long term, the NASDAQ exchange-listed company said.
Read more: Ether Treasury Companies to finally own 10% of the supply: Standard Chartered
