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\n\t\t\t\t\t\t\t\t\tFG Nexus began buying ETH on Ethereum\u2019s 10th anniversary but soon faced one of crypto\u2019s sharpest downturns.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Nasdaq-listed Ethereum treasury firm FG Nexus has recorded cumulative losses of more than $85 million on its Ethereum treasury strategy after selling a large portion of its holdings at a significant discount.<\/p>\n
According to data shared by blockchain analytics platform Lookonchain, the company acquired 50,770 ETH for around $196 million at an average price of $3,860 between August and September 2025.<\/p>\n
The pressure has also been reflected in FG Nexus\u2019 stock performance. The latest market data shows the shares closed at $7.11, down 13.4% on the day, after losing roughly 48% of its value so far this year.<\/p>\n
FG Nexus had previously adopted ETH as its primary treasury reserve asset. The company officially started<\/a> its accumulation program on July 30, 2025, by acquiring 6,400 ETH, exactly on the 10th anniversary of Ethereum\u2019s genesis block. It then increased its exposure through a series of additional acquisitions. CEO and Chairman Kyle Cerminara had earlier said that FG Nexus \u201cplans to become a significant player in the Ethereum network with a goal of a 10% stake in ETH.\u201d<\/p>\n The strategy came under pressure as market conditions deteriorated. ETH, which had been trading above $4,600 in October, declined to about $2,700 by November. This prompted the North Carolina-based company to begin selling. Since then, the crypto asset has seen a much larger drawdown. FG Nexus is among several firms affected<\/a> by the decline in Ether prices.<\/p>\n Peter Thiel\u2019s Founders Fund exited<\/a> its entire investment in Ethereum treasury firm ETHZilla in February. Meanwhile, Bitmine, which is the largest ETH treasury company, is estimated<\/a> to be facing unrealized losses of around $9 billion after ETH fell below $1,800.<\/p>\n ETH is currently trading at its lowest level since April 2025. Alongside falling prices, the broader Ethereum ecosystem has also faced a period of uncertainty in recent months. For instance, the Ethereum Foundation (EF) has recently come under increased scrutiny following a series of high-profile departures, including Tomasz Sta\u0144czak, Tim Beiko, Josh Stark, and Barnab\u00e9 Monnot.<\/p>\n The exits sparked speculation about internal instability and disagreements over the Foundation\u2019s direction. In response, Ethereum co-founder Vitalik Buterin said<\/a> the Foundation is not the center of Ethereum but only one participant in the network.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\nChallenges Extend Beyond Price<\/h2>\n
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