FG Nexus has crystallized losses exceeding $86.6 million on its Ethereum holdings, according to on-chain analysis, after the company liquidated its position at a sharp discount to acquisition prices.
The firm purchased 50,770 ETH for approximately $196 million during August and September 2025, accumulating the tokens at an average price of $3,860 per coin. Beginning in November 2025, FG Nexus initiated a series of sales, offloading 51,145 ETH and generating $109.4 million in proceeds at an average execution price of $2,138—a decline of roughly 45 percent from the company's entry point.
The loss represents a significant setback for the organization's treasury management strategy, highlighting the risks of large concentrated positions during periods of market volatility. The timing of the liquidation—approximately two months after the initial accumulation—suggests the company may have faced capital requirements or revised its Ethereum outlook.