Ethereum treasury firm FG Nexus sold another 10,000 Ether on Thursday — roughly $17.8 million at current prices — bringing its combined realized and paper losses above $100 million. The move marks the latest in a series of reductions as the company continues to shed its crypto holdings.
Losses mount for treasury firm
FG Nexus is an Ethereum-focused treasury manager that has been steadily cutting its exposure since earlier this year. The latest 10,000-ETH sale pushes the firm’s total losses — both from trades it has closed and from the drop in value of assets it still holds — past the nine-figure mark. The company hasn't publicly commented on the sale or its broader strategy.
Why the selling matters
For a firm that built its business around managing other people’s Ether, losses of this size don't just hurt its own books. They raise questions about the health of the underlying treasury model — especially as ETH prices have struggled to regain momentum in recent months. The offloading comes as many institutional holders are rethinking their crypto allocations after a volatile spring.
How much Ether is left?
FG Nexus hasn’t disclosed its remaining Ether stash, so it’s unclear how much more selling pressure the firm could add to the market. The company has been paring back positions in chunks, and Thursday’s sale is the latest in a series of reductions that have grown larger over time. Whether the pace accelerates or tapers off is the open question for traders watching the flow.
