FG Nexus announces sale of majority stake in reinsurance division and focuses on Ethereum treasury strategy
Jinse Finance reported that Nasdaq-listed company FG Nexus Inc. (FGNX) has announced the sale of a majority stake in its FG Reinsurance division to Devondale Holdings LLC, led by industry veteran Tom Heise. According to the terms of the deal, FG Nexus will receive approximately $3 million in cash, a $1.25 million note, and a 40% equity stake in Devondale. This transaction aims to allow FG Nexus to focus on its Ethereum asset accumulation strategy, strengthening its goal to become the world's largest corporate ETH holder.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
RootData: XION will unlock tokens worth approximately $22.13 million in one week
CryptoQuant CEO: Bitcoin On-Chain Indicators Show Bearish Signals, Future Upside May Depend on Macro Liquidity
Bitfury makes a strategic investment of $12 million in the decentralized AI computing network Gonka.ai
