GSR – one of the leading entities in the cryptocurrency capital market – has just announced a $100 million investment in MEI Pharma, Inc. (NASDAQ: MEIP). This is a Private Investment in Public Equity (PIPE) investment accompanied by a strategic cooperation agreement, where GSR will serve as a strategic advisor and digital asset manager for MEI.
Notably, this investment aims to open a Litecoin (LTC) reserve fund. Charlie Lee – Litecoin's founder – will join MEI's Board of Directors along with a representative from GSR. This initiative has also received support from the Litecoin Foundation and is part of MEI's restructuring strategy after completing a review of future development options.
Charlie Lee shared: "Litecoin is a stable, low-cost, and easy-to-use network that has existed for over 10 years. LTC is currently one of the cryptocurrencies with the largest trading volume on payment platforms like BitPay. Collaborating with GSR and MEI will help Litecoin enter the institutional financial environment more systematically."
MEI also stated that they are pursuing a new direction, combining blockchain technology with traditional financial markets. With GSR managing assets and implementing strategies, MEI will have all the tools to use Litecoin as part of its treasury asset portfolio.
Joshua Riezman – GSR's Strategic Director for the Americas – noted that this is the first time a public company has officially integrated Litecoin into its financial strategy at an organizational level. According to him, this demonstrates growing institutional trust in Litecoin, particularly regarding reliability, adaptability, and legal clarity.
Quynh Ho – GSR's head of venture investments – added: "Many institutions are interested in Litecoin, but lack safe and systematic approaches. This investment aims to address that by creating a reliable investment channel for those wanting to access an asset that has proven its value over time."
As an investor, strategic advisor, and asset manager, GSR expects this deal will help create long-term development momentum for Litecoin, especially in the DeFi sector. Previously, GSR has also supported many prominent projects, including Katana – a protocol developed on the Polygon network.
Besides GSR and Charlie Lee, the deal has attracted participation from many major names in the cryptocurrency industry, such as Litecoin Foundation, Mozayyx, ParaFi Capital, HiveMind, Primitive Ventures, RLH Capital, Delta Blockchain Fund, CoinFund, and several other financial institutions.
