FG Nexus Liquidates $31-$43 Million in ETH Amidst Share Buyback Program

Crypto-treasury firm FG Nexus recently sold 10,922 Ethereum (ETH) worth a range of $31-$43 million. This move is part of a buyback program aimed at bolstering the company’s shares, which have experienced an 85% decline over the past six months. The sale follows a dip in Ethereum’s price below $3,000, indicating a strategic response to financial pressures and market volatility. FG Nexus aims to purchase back its own stock, seeking to stabilize their share value amidst this downturn. The transaction impacts both FG Nexus’s treasury holdings and the broader Ethereum market, highlighting the intricate interplay between crypto fund management and market valuation.