On-chain monitoring shows that FG Nexus has sold an additional 7,550 ETH, cashing out approximately $14.06 million. This is no longer just a simple position adjustment but more like a signal of a major shift in strategic direction.

This treasury company, which once made a high-profile announcement to "increase Ethereum holdings," is now responding to the market with continuous sell-offs.
1. From aggressive betting to passive stop-loss
The timeline clearly outlines its decision-making process:
August–September 2025: Bought 50,770 ETH at an average price of about $3,860, with a total cost of approximately $196 million
October 22, 2025: Announced the sale of real estate assets to further increase ETH holdings
Less than a month later: Started selling 21,025 ETH at an average price of about $2,649, cashing out approximately $55.7 million
Latest move: Sold another 7,550 ETH
The company currently still holds about 30,094 ETH, but based on current valuations, the paper loss is approximately $82.8 million.
This is not an ordinary swing trading operation but a typical structural mistake of "building a concentrated position at high levels and being forced to reduce at low levels."
2. Risks exposed in treasury-type company's crypto strategy
The operational logic of FG Nexus essentially treats Ethereum as a core asset reserve—similar to some listed companies including Bitcoin in their balance sheets. However, compared to Bitcoin, Ethereum's price volatility and market sentiment sensitivity are higher.