Fundamental Global is raising 5 billion USD for its Ethereum treasury. The company plans to use most proceeds to purchase ETH and will issue shares based on market conditions.
CEO Kyle Cerminara aims to acquire a 10% stake in the Ethereum network, with the company also planning a rebranding to FG Nexus Inc.
Post-announcement, Fundamental Global’s stock increased by 2% in after-hours trading, and ETH saw a 6% surge in the past 24 hours.
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