MEI Pharma Acquires Litecoin, Launches Institutional Treasury Strategy with Charlie Lee and GSR Advising

MEI Pharma acquires Litecoin, launching a $100M institutional treasury strategy with Charlie Lee and GSR advising. The company becomes the first US-listed public company to adopt Litecoin as a primary reserve asset, implementing a new strategy built on digital asset infrastructure. Litecoin's proven reliability, operational efficiency, and broad-based adoption make it ideal for treasury and reserve allocation.

San Diego-based MEI Pharma (NASDAQ: MEIP) has taken a significant step into the cryptocurrency realm by acquiring 929,548 Litecoin (LTC) tokens, marking the first time a U.S.-listed public company has adopted Litecoin as its primary treasury reserve asset. The company launched a $100 million institutional treasury strategy in collaboration with crypto market maker GSR and Litecoin creator Charlie Lee.

The acquisition, valued at approximately $110.4 million as of Aug. 4, was made at an average price of $107.58 between July 30 and Aug. 4. At current market prices of around $124, the LTC treasury is now valued at about $115 million [1].

The decision to adopt Litecoin was driven by several factors. The token's 13-year record of uninterrupted uptime, low fees, and fast settlement make it an ideal candidate for treasury and operational use cases. Additionally, Litecoin's integration into platforms like PayPal (NASDAQ: PYPL), BitPay, Venmo, and Robinhood (NASDAQ: HOOD) further validates its utility [1, 3].

Charlie Lee, who also sits on MEI’s board, emphasized Litecoin's role as both a reserve asset and an integral part of global financial systems. GSR, a leading crypto investment and trading firm, will advise on market structure, governance, and execution for MEI's treasury model [1, 3].

MEI Pharma's move follows a broader trend of public firms exploring digital assets as part of long-term capital diversification. The company continues to focus on its drug development pipeline, including voruciclib, a CDK9 inhibitor currently in pre-clinical stages, while hinting at potential expansion into Litecoin mining or related ventures [1, 4].

References:
[1] https://www.theblock.co/post/365645/mei-pharma-litecoin-treasury-strategy-charlie-lee-gsr
[2] https://thecoinrise.com/mei-pharma-makes-litecoin-its-primary-treasury-asset/
[3] https://finance.yahoo.com/news/mei-pharma-chooses-not-bitcoin-143823425.html
[4] https://www.cryptotimes.io/2025/08/06/mei-pharma-invests-100m-in-litecoin-adds-charlie-lee-to-board/