According to a report by Globe Newswire on August 11, Nasdaq-listed Fundamental Global Inc (stock code: FGNX, FGNXP) announced that it has acquired 47,331 ETH at a price of $4,228.40 each. The company stated that all proceeds from the previously announced $200 million private placement have been used to purchase ETH.
The CEO of the company's digital asset department, Maja Vujinovic, stated that the company plans to continue promoting the global adoption of ETH as a reserve asset, with the goal of holding 10% of the Ethereum network's stake. The company has established partnerships with cryptocurrency custody firm Anchorage Digital and asset management company Galaxy.
