- FG Nexus bought 50,770 ETH at $3,860 avg and sold portions near $2,649, locking in $83M in losses.
- The firm’s stock dropped 94% from 2025 highs, even as it funds a $200M share repurchase program.
- ETH trades at $1,940, down 50% from FG Nexus’s entry price, with analysts eyeing $1,700 support.
FG Nexus is having a rough time in the crypto market. The Nasdaq-listed Ethereum treasury firm sold another 7,550 ETH on Wednesday. That sale was worth roughly $14 million.
It adds to a growing list of losses since the company first built its ETH position. All together, the firm has now lost about $83 million from its original investment.
FG Nexus Bought Big, Then ETH Prices Crashed Hard
The Charlotte, North Carolina-based company started buying Ethereum in August and September 2025. It picked up 50,770 ETH at an average price of $3,860 per token, spending a total of around $196 million. That was a significant bet on Ethereum’s future. But the market had other plans.
ETH prices dropped more than 50% from those highs. The token fell to near $1,920 at some point, leaving FG Nexus sitting on a painful unrealized loss.
On October 22, 2025, the firm announced plans to sell property to buy even more ETH. Less than a month later, it started selling instead.
Ethereum treasury firm FG Nexus(@FGNexusio) sold another 7,550 $ETH($14.06M) today.
In August and September 2025, they bought 50,770 $ETH($196M) at $3,860 avg.
On October 22, 2025, they announced plans to sell their property to buy more $ETH.
But less than a month later, they… pic.twitter.com/m5cFreTBQk
— Lookonchain (@lookonchain) February 25, 2026
According to on-chain tracking account Lookonchain, FG Nexus offloaded 21,025 ETH earlier at an average price of around $2,649. Now, it holds 30,094 ETH valued at roughly $57.5 million. The total damage from the trade sits at $82.8 million in losses.
CEO Cites Share Buybacks, But Critics Are Not Impressed
CEO Kyle Cerminara says the proceeds from the ETH sales fund a $200 million share repurchase program. The company has bought back nearly 10 million shares at discounted prices. That may sound like a strategic pivot. But the company’s stock tells a different story, falling 94% from its 2025 highs.
X user Nduyy did not hold back. He called FG Nexus “a masterclass in why conviction without risk management is just gambling.” He pointed out that the firm bought near the top and sold near the bottom, calling it “exit liquidity for the smart money.”
He also noted that the current administration is preparing a $2 trillion framework that could make this selloff look like a costly mistake in hindsight.
Crypto trader Crypto Bully also weighed in on Ethereum’s broader price struggles. He noted that ETH trading below $2,000 “with no signs of life isn’t exactly bullish.”
ETH below 2k with no signs of life isn't exactly bullish, on top Vitalik keeps selling his stack. If you are looking to bid you probably have time to do so.
Looking at the lows from earlier this month at $1700 as a bid (not fixed limits but going to wait for my usual OF… pic.twitter.com/YRRkKdreNS
— Crypto Bully 🔥 (@BullyDCrypto) February 25, 2026
He added that Ethereum founder Vitalik Buterin continues to sell his holdings, adding more pressure on the price. According to the latest CoinGecko data, ETH is trading at $1,940, up 6.15% in the past 24 hours but down 2.79% over the past week.
For now, FG Nexus still holds over 30,000 ETH. Whether it sells more or holds on remains to be seen. What is clear is that the timing of its buys and sells has cost the firm dearly.
