San Diego-based MEI Pharma (NASDAQ:MEIP) has purchased 929,548 Litecoin (LTC) tokens, worth approximately $110.4 million, marking a significant milestone in corporate crypto adoption. This acquisition establishes Litecoin as the company’s primary treasury reserve asset and launches a $100 million institutional treasury strategy developed with crypto market maker GSR and Litecoin creator Charlie Lee. The tokens were acquired at an average price of $107 per LTC, demonstrating growing institutional interest in cryptocurrency as an alternative treasury asset class among publicly traded companies.
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Litecoin Surges 40% as MEI Pharma Invests $110M in LTC
Litecoin (LTC) has experienced a significant 40% price surge over the past month, currently trading around $124. This rally was largely driven by MEI Pharma’s $110 million purchase of 929,548 LTC, marking the first US-listed public company to adopt Litecoin as a reserve asset. The move was supported by GSR and Litecoin creator Charlie Lee, who emphasized LTC’s role in global finance. Analysts like Crypto Dios and Rain predict further gains, with targets near $150, citing similarities to LTC’s 2020 rally. However, technical indicators such as an overbought RSI (71) and increased exchange inflows suggest a potential short-term pullback. Despite bullish sentiment, traders should monitor these signals for possible corrections.
read moreMEI Pharma Adopts Litecoin Treasury Strategy
MEI Pharma has announced its transition into a Litecoin treasury firm following a $100 million private placement. The pharmaceutical company sold 29.2 million shares at $3.42 each, with Litecoin founder Charlie Lee leading the investment alongside market maker GSR. MEI joins a growing trend of companies adopting crypto treasuries, mirroring firms like MicroStrategy. Litecoin, with an $8.5 billion market cap, was trading at $113.35, down 4.6% over 24 hours. MEI plans to acquire Litecoin in tranches, either OTC or via exchanges, as more firms explore altcoin treasuries despite market risks.
read moreGSR Invests $100M in MEI Pharma for Litecoin Treasury Strategy
GSR has partnered with MEI Pharma (NASDAQ: MEIP) in a $100 million private investment to establish Litecoin (LTC) as an institutional treasury asset. The collaboration includes GSR serving as a strategic advisor and digital asset manager, with Litecoin creator Charlie Lee joining MEI’s board. This initiative aims to bridge public markets with crypto innovation, leveraging Litecoin’s stability and global transaction volume. GSR’s involvement highlights growing institutional confidence in LTC, supported by participation from the Litecoin Foundation and prominent crypto investors. The partnership could accelerate Litecoin’s adoption in decentralized finance (DeFi) and institutional portfolios.
read moreGSR Invests $100M in MEI Pharma for Litecoin Treasury Strategy
GSR has partnered with MEI Pharma (NASDAQ: MEIP) in a $100 million private investment to institutionalize Litecoin (LTC) as a treasury asset. The collaboration involves Litecoin creator Charlie Lee and the Litecoin Foundation, with GSR serving as strategic advisor and digital asset manager. This marks the first time a public company aligns its treasury strategy with Litecoin at an institutional level, reflecting growing confidence in LTC’s stability and regulatory clarity. GSR’s role includes asset management and execution, positioning MEI to leverage Litecoin’s utility in payments and retail. The initiative also involves prominent crypto venture firms, signaling broader institutional interest in Litecoin’s long-term potential.
read moreOld-School Altcoins Surge as Altseason Looms
Ethereum Classic, Litecoin, and Bitcoin Cash experienced significant gains as XRP set a new all-time high after seven years, sparking speculation of an impending altcoin season. Akshat Vaidya, CIO of Maelstrom, noted early signals of altcoin momentum but cautioned that Bitcoin dominance remains above 60%. Ethereum Classic led the rally with a 20.3% surge, though it remains far below its 2021 peak. Litecoin and Bitcoin Cash also climbed, driven by historical liquidity and investor familiarity. The rally follows XRP’s legal progress with the SEC and the U.S. House passing the GENIUS Act, a pro-crypto stablecoin framework. Analysts attribute the market rebound to institutional engagement and favorable policy shifts.
read moreLitecoin Integrates BitcoinOS ZK Rollup for Faster Transactions
Litecoin has adopted BitcoinOS’s ZK rollup technology, enhancing transaction speed and cost efficiency while enabling cross-chain interoperability with Bitcoin and Cardano. The integration, powered by BitcoinOS’s BitSNARK ZK verifier, allows trustless bridging and leverages Litecoin’s long-standing reliability. Despite criticism over an earlier demo, BitcoinOS maintains that the implementation is still in early stages, with potential to position Litecoin as a key hub in the broader crypto ecosystem. The move could unify Bitcoin’s security, Litecoin’s speed, and Cardano’s smart contract capabilities, reducing fragmentation for users.
read moreSEC Extends Litecoin ETF Review to June 2025
The U.S. Securities and Exchange Commission (SEC) has extended its review of Canary Capital’s spot Litecoin ETF, setting a new deadline of June 17, 2025. The proposal, filed in January and under public review since February, aims to list on Nasdaq. The SEC seeks further public input to ensure compliance with federal regulations, particularly regarding fraud prevention. Canary Capital, led by former Valkyrie Funds co-founder Steven McClurg, has been pushing for Litecoin’s institutional adoption since October 2024. Despite delays, analysts like Seyffart estimate a 90% chance of approval by 2025. Litecoin’s price dropped 7% post-announcement, trading around $82. The SEC’s cautious stance mirrors its handling of other crypto ETFs, including Bitwise’s Dogecoin and Franklin Templeton’s XRP proposals.
read moreSEC Delays Decision on Litecoin ETF Amid Altcoin ETF Rush
The SEC has postponed its decision on the Canary Litecoin ETF, filed by Nashville-based Canary Capital in October 2023. This delay is part of a broader trend as the regulator evaluates multiple altcoin ETF applications, including those for Solana, XRP, and Cardano. The approval of spot Bitcoin ETFs in 2023 and Ethereum ETFs earlier this year has spurred asset managers like Bitwise, Franklin Templeton, and Grayscale to pursue similar products. Litecoin, a Bitcoin fork created in 2011, remains a mid-tier cryptocurrency with a market cap ranking of 25th. The SEC’s hesitation mirrors its historical reluctance toward crypto ETFs, though new leadership under President Trump—seen as crypto-friendly—could shift the landscape. Meanwhile, Litecoin’s price dipped 2.2% to $83 amid the news.
read moreSEC’s Crypto ETF Decisions & Trump’s Web3 Game Launch
The U.S. SEC, under new chairman Paul Atkins, is reviewing over 60 crypto ETF applications, with XRP and Solana as top contenders. Trump’s latest Web3 venture combines NFTs and the TRUMP memecoin in a Monopoly-style game, expanding his crypto brand. In a landmark ruling, the U.S. Treasury lifted sanctions on Tornado Cash, affirming that autonomous smart contracts aren’t ‘property’ under federal law. Litecoin, despite its early promise, lags behind Bitcoin in adoption, while Bitcoin could gain from a weakening U.S. dollar driven by macroeconomic shifts. The crypto market remains dynamic, with regulatory, political, and economic factors shaping its trajectory.
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