FG Nexus announces agreement to sell FG Reinsurance Division to Devondale

FG Nexus (FGNX) announced an agreement to sell a majority stake in FG Reinsurance and FG Re Solutions to Devondale led by industry veteran Tom Heise. Through the transaction, FG Nexus will receive approximately $3.0M cash, a $1.25M note and 40% equity ownership of Devondale. “This transaction sharpens our focus on Ethereum and reallocates resources toward ETH accumulation. FG Nexus is building long-term ETH per share growth and reinforcing our conviction that Ethereum is the backbone of tomorrow’s financial system,” said Maja Vujinovic, CEO of Digital Assets at FG Nexus.