GSR has introduced a $100 million personal funding in MEI Pharma (NASDAQ: MEIP) and a brand new strategic partnership. As a part of the settlement, GSR will function a strategic advisor and handle MEI’s digital asset treasury. This transfer indicators a brand new route for MEI, which plans to undertake Litecoin (LTC) as a core treasury asset.
Charlie Lee, the creator of Litecoin, and a GSR consultant will be part of MEI’s Board of Administrators. The Litecoin Basis will assist the initiative. This growth follows MEI’s earlier evaluate of strategic alternate options and exhibits its transition towards a digital asset-focused enterprise mannequin.
GSR will assist MEI handle its Litecoin holdings and assist the corporate’s operations throughout the digital asset house. The partnership is designed to attach public markets with crypto methods, and MEI’s management is working to align its new route with the targets of each GSR and the Litecoin Basis.
The funding additionally contains participation from a number of crypto-focused funding companies and infrastructure suppliers. GSR, which has supported different blockchain initiatives together with these on the Polygon community, continues to supply liquidity, and advisory companies throughout the digital asset business.
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