Nasdaq-listed MEI Pharma made a strategic pivot by acquiring Litecoin as a treasury asset in collaboration with GSR and LTC founder Charlie Lee, signaling institutional confidence and potential rebranding with mining initiatives.
On August 4, MEI Pharma announced the purchase of 929,548 Litecoin at an average price of $107.58 per coin, totaling approximately $110.4 million. The press release highlights network resilience, low fees, and fast settlement times as key reasons for the move, marking the first instance of a U.S. public company anchoring its treasury strategy in Litecoin. The acquisition, executed with market maker GSR and guided by LTC creator Charlie Lee, coincides with a planned corporate rebranding and continues the company’s commitment to its drug development pipeline, including the pre-clinical review of voruciclib.