Fundamental Global sinks 13% following Ether treasury news
Markets responded with a 13% drop in share price after the company unveiled its $200 million Ether treasury plan.
Shares of Fundamental Global plunged today on the Nasdaq after the company announced a major strategic shift toward Ether (ETH) as its primary treasury asset. The firm revealed plans to allocate $200 million to ETH, funded through a private placement of 40 million common stock warrants priced at $5 each.
The move aligns Fundamental Global with other corporates building ETH treasuries. According to an announcement, the company aims to offer “multiple value drivers beyond ETH price appreciation,” including staking rewards and exposure to tokenized real-world assets.
Strategic investors backing the pivot include Galaxy Digital, which will manage the company’s ETH treasury; Kraken, which will assist with staking and treasury operations; and Hivemind Capital. As part of the pivot, Fundamental Global is changing its name to “FG Nexus.”
