Mike Novogratz and Kraken Back a Stunning $200M Pivot to Ethereum as This Company Goes All-In on ETH

In a bombshell move sending ripples through the corporate finance world, one company is celebrating Ethereum’s 10th birthday by making a jaw-dropping $200 million bet on its future, and it's bringing in the biggest names in crypto to back the play.

Fundamental Global Inc. has just announced a massive strategic transformation, starting with a new name: FG Nexus Inc. But this is far more than a simple rebrand. The company is fundamentally re-wiring its financial core by launching a $200 million private placement with a singular, audacious goal: to purchase Ethereum (ETH) and establish it as the company's primary treasury reserve asset.

Forget dusty gold bars and low-yield bonds. FG Nexus is positioning itself at the bleeding edge of corporate finance, replacing traditional safe-haven assets with the world's leading smart contract platform. The strategy doesn't stop at just buying and holding. The company plans to actively stake its ETH holdings, aiming to generate yield and deepen its integration within the Ethereum ecosystem.

Making a move this bold requires serious firepower, and FG Nexus has secured it. The private placement is being backed by titans of the digital asset industry. Leading the charge is Mike Novogratz's Galaxy Digital (Nasdaq: GLXY), which is not only participating as a strategic and financial investor but will also serve as a crucial advisor. Galaxy will manage FG Nexus's Ethereum treasury, providing expert asset management, yield execution, and critical infrastructure support. Joining them is another industry giant, Kraken, who will also collaborate strategically with the newly formed FG Nexus.

This isn't just a speculative crypto play; it's a calculated strategy to bridge the gap between decentralized technology and real-world finance. FG Nexus intends to apply its deep expertise in merchant banking and reinsurance to pioneer new use cases and drive the adoption of the Ethereum blockchain in traditional financial sectors.

As the company prepares to trade under its new ticker symbols, FGNX and FGNXP, the message to the market is crystal clear. This $200 million pivot is a massive vote of confidence in the long-term viability of Ethereum and a potential blueprint for how corporations of the future will manage their wealth.