FG Nexus Reduces Ethereum Holdings Amid Losses

Blockchain sleuth EmberCN posted on X that eight hours ago, FG Nexus, a treasury company, sold 7,550 ETH valued at $14.06 million. FG Nexus ($FGNX) has incurred losses of $86.98 million due to its investment in Ethereum. Last August and September, during the peak of DAT company popularity, FG Nexus purchased 50,600 ETH at an average price of $3,940, worth $200 million at the time. As Ethereum prices declined, the company began reducing its holdings in November. To date, FG Nexus has sold a total of 21,000 ETH valued at $55.69 million, with an average price of $2,649.