Fundamental Global Sells Reinsurance Division to Devondale
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Fundamental Global (FGNX) has announced the sale of its FG Reinsurance Division to Devondale Holdings to focus on Ethereum and enhance its ETH treasury strategy. The deal includes cash, a promissory note, and equity ownership, aiming to position FG Reinsurance as a pioneer in tokenized reinsurance. The transaction awaits regulatory approval. Analysts rate FGNX stock as Hold with a $3.50 target, reflecting concerns over declining revenues and profitability despite being undervalued. The company aims to become a major ETH holder and is involved in Ethereum-powered finance.
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