news 
Title: Nasdaq-listed MEI Pharma launches $100M Litecoin treasury plan, stock rockets 50%
Nasdaq-listed biotech company MEI Pharma has launched a $100 million Litecoin treasury plan in collaboration with the Litecoin Foundation and major crypto partners. In response to this announcement, the company’s shares have skyrocketed by over 50% at market opening on Friday.
The newly formed institutional Litecoin treasury strategy is backed by Titan Partners Group and GSR, a prominent crypto investment firm. Charlie Lee, the creator of Litecoin, will join MEI Pharma’s Board of Directors in an effort to expand global Litecoin adoption through institutional channels.
MEI Pharma’s decision to adopt Litecoin as a corporate asset marks another significant milestone for the cryptocurrency. While MEI Pharma is not the first company to do so, it highlights the growing trend towards mainstream acceptance and integration of cryptocurrencies like Litecoin into traditional financial systems.
The partnership between MEI Pharma and GSR will provide critical support for the development of institutional-grade infrastructure for the Litecoin network. This move could potentially pave the way for a broader adoption of Litecoin as a viable alternative to other digital currencies like Bitcoin, Ethereum, or Solana.
It is essential to note that the biotech company’s stock has seen an unprecedented surge following this announcement, indicating growing interest in Litecoin and its potential applications within institutional settings.
Source: cryptobriefing.com
