FG Nexus dumped all its Ethereum at a $45 million loss to buy mobile home parks—after earning just $144,000 in staking rewards

FG Nexus has abandoned its Ethereum treasury strategy less than a year after launch, redirecting its focus toward real estate development.In an Aug. 12 SEC filing, the Nasdaq-listed merchant bank disclosed that it sold all of its digital assets before June 30 and held no cryptocurrency at quarter-end.FG Nexus, previously known as Fundamental Global, announced its Ethereum treasury strategy in July 2025 and launched the digital-asset operation the following month. At its peak, the firm held more than 50,000 ETH.However, the firm began divesting the holdings this year amid a broader market contraction that significantly impacted digital asset treasury companies.Ethereum staking returns fail to offset lossesThe exit exposed how little staking income offset the losses generated by the company's Ethereum-focused strategy.FG Nexus recorded just $144,000 of staking revenue during the first half, equivalent to roughly 0.3% of the $45.207 million loss from its discontinued digital-asset operations.That loss included a $41.167 million loss on ETH digital assets, $2.793 million of impairment on digital intangibles, and $1.789 million of general and administrative expenses, partly offset by a ...