Key Takeaways:
FG Nexus bought 50,770 ETH for $196M in 2025, then sold 36,025 ETH at lower prices.FG Nexus realized losses above $85M, highlighting risks in ethereum treasury strategies.Everstake data suggests ETH firms increasingly rely on staking as markets stay challenging.FG Nexus is facing steep losses from its ethereum treasury strategy after buying heavily into ether in 2025 and later selling much of the position into a weaker market.
The losses show the risk of that model. Ether treasury companies can benefit when prices rise, but their equity story can weaken quickly when token prices fall or when firms are forced to sell below their acquisition cost.
For now, FG Nexus stands as a cautionary example. The company moved early and aggressively into ethereum, but its realized sales show how quickly a treasury strategy can turn from a growth narrative into a balance-sheet burden.
