FG Nexus reports $85 million loss on Ethereum investment

A Nasdaq-listed company has incurred substantial losses on a major investment in Ethereum, selling a significant portion of its holdings as the cryptocurrency’s price remains far below its purchase level. FG Nexus, a firm that repositioned itself to focus on digital assets, has realized losses exceeding $85 million and is continuing to reduce its exposure.

Corporate filings and on-chain data show that between August and September 2025, FG Nexus spent approximately $196 million to acquire around 50,770 Ethereum tokens at an average price of $3,860 each. As Ethereum’s market value declined in subsequent months, the company began selling its holdings. Recent blockchain analytics identified a transfer of 10,000 ETH, valued at approximately $18 million, to the trading firm Galaxy Digital, which is widely seen as preparation for a sale. This follows earlier disposals totaling more than 21,000 ETH.

The sales have occurred at prices dramatically lower than the acquisition cost. The company has sold a total of roughly 38,300 ETH for about $89 million, at an average sale price near $2,330. This has resulted in realized losses estimated between $85 million and $89 million on the sold...