Litecoin Rallies on $100M Bet by Nasdaq-Listed Firm — Is This Just the Beginning?

Litecoin Rallies 10% as MEI Pharma Unveils $100M Treasury Investment Plan

Litecoin (LTC) surged 10% to $100.05 on Wednesday, fueled by news that MEI Pharma, a Nasdaq-listed biotech firm, intends to raise $100 million via a private stock sale to fund a Litecoin-focused treasury strategy.

If completed, MEI would become the first publicly traded company to adopt LTC as its primary treasury reserve asset. The company also announced that Litecoin creator Charlie Lee will join its board of directors following the raise. Digital asset trading firm GSR, a lead investor in the deal, has been tapped to manage the company’s planned crypto reserves.

Other investors include the Litecoin Foundation, ParaFi Capital, CoinFund, Hivemind, MOZAYYX, Primitive Ventures, and RLH Capital.

“This milestone not only reflects growing institutional confidence in LTC but also sets the stage for broader adoption in traditional capital markets,” Lee said in a statement.

The move comes amid a broader altcoin rally triggered by the U.S. House of Representatives’ passage of the GENIUS Act, legislation aimed at promoting blockchain innovation. The bill is expected to be signed into law by President Trump on Friday. Traders are also eyeing the potential passage of the CLARITY Act, which would provide long-awaited regulatory clarity on digital asset classifications.

MEI cited Litecoin’s reliability, low fees, and uninterrupted uptime since launch as reasons for its selection. The company is currently developing oncology drug candidates, including the oral CDK9 inhibitor voruciclib.

The private investment in public equity (PIPE) was structured to meet Nasdaq listing standards, with Titan Partners Group, a division of American Capital Partners, acting as the sole placement agent. MEI said it plans to file a resale registration statement with the SEC after the transaction closes.

No LTC has yet been acquired. The company’s treasury allocation plan remains contingent on successful completion of the offering.

Following the announcement, MEI shares surged 46% to $6.58 on Thursday, hitting an intraday high of $9.00—the stock’s highest level in a year. MEI’s market cap rose to over $50 million during the morning session.