Global Fundamental (FGF), listed by the NASDAQ (FGF), is to rename FG Nexus and to enter the digital asset space with a private placement of 200 million dollars to launch an ether -based cash strategy, said the company in a press release on Wednesday
The offer, made up of 40 million favorite mandates at a price of $ 5, was supported by a list of high -level strategic investors, notably Galaxy Digital, Kraken, Hivemind Capital, Syncracy Capital, Digital Currency Group and Kenetic, said the company.
Galaxy will serve as a strategic advisor, managing the cash flow and the infrastructure of clearing, while Kraken will support shuttle operations.
The company plans to use the product to accumulate ether (ETH) as a reserve principal, generate features of features and allow an exposure to the active world tokenized.
FG Nexus is part of the growing list of institutional players betting on Ethereum as a layer of regulation of the future. Other public companies such as Sharplink Gaming (SBET), Bitmin Immersion (BMNR) and Bit Digital (BTBT) have all recently announced Treasury ether strategies.
Leadership FG Nexus includes Joe Moglia, former CEO of TD Ameritrade and fundamental world co-founder, who joined as an executive advisor. The digital active strategy will be directed by the first Pioneer Maja Vujinovic blockchain.
The new symbols of Ticker FGNX and FGNXP should be put online after the end of the offer or towards August 1 or towards August 1.
The manufacturer of mining equipment based in Singapore, Canaan (CAN), also announced a new cash strategy which has appointed Bitcoin {BTC} as a long -term active reserve, the company announced on Wednesday.
While Bitcoin will remain the centerpiece, Canaan’s policy allows the occasional acquisition of other cryptographic assets, including ether and genius ACT – Compliant American Stablecoins.
Bitcoin accumulated by normal commercial activities, including auto-mine and the sale of mining equipment, will be kept in the long term, said the company listed in Nasdaq.
Read more: Ether cash companies to possibly have 10% of the offer: Standard Charterd
