Ethereum News Today: MEI Pharma Allocates $100M to Litecoin in Bold Treasury Shift

MEI Pharma Inc. has made a bold entry into the cryptocurrency space by allocating $100 million to Litecoin as part of a newly established institutional treasury strategy. Announced on August 5, 2025, the move positions the U.S.-listed pharmaceutical firm as the first public company to adopt Litecoin (LTC) as its primary reserve asset [1]. The firm acquired 929,548 LTC units between July 30 and August 4 at an average price of $107.58, with Litecoin currently trading near $124, pushing the value of the holding to approximately $115 million [3].

The investment was funded through a $100 million private placement that closed in July 2025, led by Litecoin’s founder, Charlie Lee, and digital asset trading firm GSR. Lee has now joined MEI’s board of directors, replacing Taheer Datoo, while GSR will be responsible for managing MEI’s cryptocurrency assets [3]. Additional participants in the private placement included the Litecoin Foundation, ParaFi, Hivemind, Primitive, RLH Capital, and Delta Blockchain. Titan Partners Group served as the sole placement agent, and legal counsel was provided by Morgan, Lewis & Bockius LLP for MEI and Lucosky Brookman LLP for the agent [3].

MEI cited Litecoin’s 13-year uptime, low transaction fees, and fast settlement times as key factors in its decision. The company also highlighted the token’s increasing adoption across major platforms such as BitPay, PayPal, and Robinhood as evidence of its utility and scalability [3]. Despite the focus on digital assets, MEI confirmed that its core drug development programs, including work on the experimental cancer treatment voruciclib, remain on track [3].

This move underscores a growing trend among publicly traded firms exploring alternative reserve assets in the form of cryptocurrencies. However, MEI’s choice of Litecoin over more dominant assets like Bitcoin or Ethereum has drawn attention. The firm emphasized that its strategy is not speculative but rather a long-term allocation based on Litecoin’s reliability and performance. Charlie Lee, who stepped away from the project in 2018, has returned as a board member, lending additional credibility to the firm’s approach [3].

MEI’s investment appears to have had a positive impact on Litecoin’s price, which hit a five-month high following the announcement [6]. The firm’s decision may also signal broader institutional confidence in the future of crypto-based financial products, including potential ETFs, which have been a recurring topic in market discussions [7].

MEI Pharma’s strategic pivot into digital assets represents a significant milestone in the evolution of corporate treasury management. By committing a substantial portion of its capital to Litecoin, the firm is reinforcing the narrative that cryptocurrencies can serve as legitimate components of institutional portfolios [1].

Sources:

[1] MEI Pharma Acquires Litecoin, Launches $100M Institutional Treasury Strategy with Charlie Lee and GSR Advising

https://www.businesswire.com/news/home/20250805082856/en/MEI-Pharma-Acquires-Litecoin-Launches-%24100M-Institutional-Treasury-Strategy-with-Charlie-Lee-and-GSR-Advising

[3] MEI Pharma Invests $100M in Litecoin, Adds Charlie Lee to Board

https://www.cryptotimes.io/2025/08/06/mei-pharma-invests-100m-in-litecoin-adds-charlie-lee-to-board/

[6] Litecoin Hits Five-Month High Amid ETF Optimism and $100M MEI Pharma Treasury

https://decrypt.co/333561/litecoin-hits-five-month-high-amid-etf-optimism-and-100m-mei-pharma-treasury

[7] Ethereum News Today: MEI Pharma Allocates $100M to Litecoin

https://www.ainvest.com/news/ethereum-news-today-mei-pharma-allocates-100m-litecoin-primary-treasury-asset-gsr-charlie-lee-2508/