Nasdaq-listed company Fundamental Global transforms into FG Nexus! Investing $200 million to build an ETH treasury, partnering with industry giants like Galaxy Digital.

Nasdaq-listed company Fundamental Global (FG) announced a major strategic transformation on the occasion of Ethereum's 10th anniversary: officially renamed FG Nexus (trading code changed to FGNX/FGNXP), and established Ethereum (ETH) as the core treasury reserve asset. The company simultaneously launched a $200 million private sale (issuing 40 million pre-paid warrants at a price of $5 each), with the raised funds intended for purchasing ETH and implementing a treasury management plan that includes staking and on-chain yield strategies. Galaxy Digital and Kraken have joined as key infrastructure partners, responsible for fund management and staking operations, respectively.

[Strategic Transformation: Embracing the New Nasdaq Army of ETH] On July 30, 2024 (the tenth anniversary of Ethereum's birth), Fundamental Global, headquartered in North Carolina, announced a full shift towards a digital asset strategy, with key initiatives including:

1. Asset Allocation Revolution: Set Ethereum ( ETH ) as the primary treasury reserve asset.
2. Financing Support: Initiate $200 million private sale by issuing 40 million prepaid common stock warrants (at $5 each).
3. Use of Funds: The funds raised will be used to purchase ETH and implement a comprehensive treasury management strategy covering staking and yield farming in the Ethereum on-chain financial ecosystem.
4. Brand Upgrade: The company officially changed its name to FG Nexus, and the trading codes have been updated to FGNX (common stock) and FGNXP (warrants).

[Giant Support: Galaxy Builds Infrastructure with Mainstream CEX] The transformation of FG Nexus has received deep support from top cryptocurrency institutions:

• Galaxy Digital: As an investor and core partner, responsible for ETH treasury management and yield strategy execution.
• Mainstream CEX: Also plays the roles of both investors and partners, undertaking ETH staking operations and on-chain technical support. Other participants in the private sale financing include: Hivemind Capital, Syncracy Capital, Digital Currency Group (DCG), and Kenetic.

【Business Positioning: Connecting Traditional Finance and Ethereum Ecosystem】 The transformation of FG Nexus is by no means a simple name change. The company's statement clearly indicates that its goal is to become a bridge connecting traditional financial infrastructure with the Ethereum ecosystem:

• Shareholder Value: Not only does it provide shareholders with exposure to ETH price fluctuations, but it also allows them to share in the vast application value of Ethereum as a programmable settlement layer (covering digital assets, stablecoins, and the tokenization of real-world assets).
• Team Configuration: A new leadership team has been formed, combining experience in traditional finance and the crypto field, to ensure the successful implementation of strategies.

[Market Reaction: Optimistic Start Encountered Profit Taking] The transformation news triggered a sharp fluctuation in stock prices:

1. Pre-market surge: On July 30, optimistic market sentiment drove FG's stock price to soar 76.66%, reaching a high of $38.
2. Closing Pullback: During the trading day, investors' concerns about the transformation scale and the company's weak financial report emerged, leading to a drop in stock prices. The closing price was $18.57, with a daily decline of 13.7% (Google Finance data). This reflects that while the market recognizes the strategic value of ETH, it is also attentive to its execution risks and fundamental pressures.

[Institutional ETH Holdings Surge Continues] FG Nexus joins the growing "enterprise ETH treasury camp". In the past month:

• BitMine Immersion Technologies and SharpLink Gaming have disclosed large-scale ETH allocations.
• 180 Life Sciences (soon to be renamed ETHZilla Corporation) will also incorporate ETH into its core reserve strategy.

Conclusion: The birth of FG Nexus is a landmark event in the traditional public company's deep embrace of Ethereum. The $200 million ETH allocation plan, combined with the top-tier infrastructure support from Galaxy Digital and mainstream CEXs, highlights its determination to transform. Although the stock price is fluctuating in the short term due to concerns over earnings reports, in the long run, the company is attempting to capture the enormous potential of ETH as a "programmable treasury bond" and a cornerstone of the ecosystem. As more public companies follow this path, the trend of institutional capital flowing into the Ethereum ecosystem may accelerate the reconstruction of the boundaries between traditional finance and blockchain.