
San Diego-based MEI Pharma (NASDAQ:MEIP) has acquired 929,548 Litecoin (CRYPTO: LTC) tokens, becoming the first U.S.-listed public company to adopt Litecoin as its primary treasury reserve asset.
What Happened: The acquisition, valued at approximately $110.4 million as of Aug. 4, marks the launch of a $100 million institutional treasury strategy in collaboration with crypto market maker GSR and Litecoin creator Charlie Lee.