FG Nexus Abandons Ethereum Strategy Amid Heavy Losses

Nasdaq-listed company FG Nexus has ended its Ethereum strategy after less than a year of operation. The firm fully liquidated its digital assets, which at one point peaked at 50,000 ETH.

The sale of these assets generated $60.96 million in cash during the first half of the year, with an additional $14.98 million received in July. However, FG Nexus also reported a loss of $45.2 million from its Ethereum holdings.

The company's staking income was relatively low at just $144,000. In response to these results, FG Nexus has decided to reallocate all its capital into real estate instead.