Nasdaq listed FG Nexus has reportedly accumulated losses exceeding $85 million from its Ethereum focused treasury strategy after selling a substantial portion of its holdings at prices well below its original purchase cost.
Data shared by Lookonchain indicates that the company acquired approximately 50,770 ETH between August and September 2025, spending nearly $196 million at an average purchase price of about $3,860 per token.
Ethereum Price Decline Forces Strategic Shift
FG Nexus initially embraced Ethereum as its primary treasury reserve asset and launched its accumulation strategy on July 30, 2025, coinciding with the tenth anniversary of Ethereum’s genesis block.
The company began by purchasing 6,400 ETH before steadily expanding its position through a series of additional acquisitions. At the time, CEO and Chairman Kyle Cerminara stated that the company aimed to become a major participant in the Ethereum ecosystem, with an ambitious long term goal of controlling as much as 10% of the network’s circulating supply.
However, market conditions quickly turned unfavorable. After trading above $4,600 in October 2025, Ethereum fell to around $2,700 by November, prompting FG Nexus to begin reducing its exposure. Since then, ETH has experienced an even steeper decline, further increasing losses for firms heavily invested in the asset.
Stock Price Also Under Pressure
The impact of the company’s Ethereum strategy has extended beyond its digital asset holdings.
Recent market data shows FG Nexus shares closed at $7.11, representing a daily decline of 13.4%. The stock has now lost roughly 48% of its value since the beginning of the year, reflecting investor concerns over both Ethereum’s performance and the company’s treasury strategy.
Not the Only Firm Feeling the Impact
FG Nexus is far from alone in facing challenges tied to Ethereum’s downturn.
Earlier this year, Founders Fund, backed by Peter Thiel, reportedly exited its entire position in ETHZilla.
Meanwhile, Bitmine, currently regarded as the largest corporate holder of Ethereum, is estimated to be carrying unrealized losses approaching $9 billion after ETH dropped below $1,800.
Ethereum Ecosystem Faces Additional Challenges
The recent struggles have not been limited to Ethereum’s market price.
The broader Ethereum ecosystem has also faced growing scrutiny following several high profile departures from the Ethereum Foundation. Individuals who recently left the organization include Tomasz Stanczak, Tim Beiko, Josh Stark, and Barnabé Monnot.
These departures fueled speculation about potential internal disagreements and uncertainty surrounding the foundation’s future direction.
Responding to the discussion, Ethereum cofounder Vitalik Buterin emphasized that the Ethereum Foundation should not be viewed as the central authority of the network. He stated that the foundation is only one participant within a much broader and decentralized ecosystem.
As Ethereum continues to trade at its lowest levels since April 2025, both treasury focused companies and ecosystem stakeholders remain under increasing pressure from prolonged market weakness and ongoing industry uncertainty.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
