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.
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