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Publicly traded company LIXTE Biotechnology will allocate up to 25% of the company's financial reserves to cryptocurrency, pending approval.
BlockBeats News, August 13th, Clinical-stage pharmaceutical company LIXTE Biotechnology Holdings, Inc. (Nasdaq codes: LIXT and LIXTW) announced today that its board of directors has approved a strategic capital allocation plan that will incorporate cryptocurrency into the company's financial reserves. The board has approved allocating up to 25% of the company's financial reserves to cryptocurrency, including Bitcoin and other digital assets as deemed appropriate on a case-by-case basis.
The timing and scale of any such transactions will depend on market conditions at the time and other strategic considerations. LIXTE will continue to closely monitor developments in the digital asset space and retain flexibility to adjust its holdings. The company plans to have all cryptocurrency assets held by fully regulated and compliant custodians. All future transactions will strictly adhere to relevant financial, legal, and auditing regulations to ensure transparency, security, and full regulatory compliance.
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