Kraken-Backed FG Nexus Unveils $200M Ethereum Treasury Strategy Post-Rebrand

In a significant move within the cryptocurrency space, FG Nexus (formerly Fundamental Global) has announced a $200 million Ethereum-focused treasury strategy following its rebranding. The Nasdaq-listed firm successfully raised the capital through the sale of 40 million prefunded warrants at $5 each, with notable participation from Kraken, Galaxy Digital, and four other crypto-native institutions. This strategic pivot establishes Ethereum as FG Nexus's core reserve asset, signaling strong institutional confidence in ETH's long-term value proposition as we approach Q3 2025.

FG Nexus Launches $200M Ethereum Treasury Strategy Following Rebrand

Fundamental Global has rebranded as FG Nexus, securing $200 million in private funding to pivot toward Ethereum-based treasury management. The Nasdaq-listed investment firm sold 40 million prefunded warrants at $5 each, attracting participation from Galaxy Digital, Kraken, and four other crypto-native institutions.

The capital will primarily fund ETH acquisitions, establishing ethereum as FG Nexus's core reserve asset. This strategic shift coincides with Ethereum's 10th anniversary and includes plans to generate staking yields while exploring tokenized real-world asset opportunities. Galaxy Digital will advise on treasury infrastructure, while Kraken facilitates staking operations.

Ripple CTO Clarifies Kraken Co-Founder's Stance on XRP Delisting

David Schwartz, Ripple's Chief Technology Officer, has intervened to correct misconceptions about Kraken co-founder Jesse Powell's position on XRP. Contrary to claims that Powell harbored animosity toward the digital asset, Schwartz attributes Kraken's delisting decision to legal prudence rather than personal bias.

The discussion emerged from a casual Twitter poll about Ripple's potential IPO, escalating when users revived old allegations about Powell's stance. Schwartz emphasized the nuanced reality: regulatory uncertainty surrounding XRP's classification as a security drove exchange decisions, not individual sentiment.

Powell's longstanding concerns reflect the crypto industry's broader challenge—navigating evolving regulations while maintaining operational integrity. His caution centered on potential legal repercussions for exchanges if XRP were deemed a security retroactively.