BlockBeats reported on August 13 that clinical-stage pharmaceutical company LIXTE Biotechnology Holdings, Inc. (NASDAQ: LIXT and LIXTW) today announced that its board of directors has approved a strategic capital allocation plan to incorporate cryptocurrency as part of the company's financial reserves. The board approved allocating up to 25% of the company's financial reserves to cryptocurrency, including Bitcoin and other digital assets selected as appropriate.
The timing and scale of any such transactions will depend on the market conditions at the time and other strategic considerations. LIXTE will continue to closely monitor developments in the digital asset space and reserves the flexibility to adjust its holdings. The company plans to custody all cryptocurrency assets with fully regulated and compliant custodians. All future transactions will strictly adhere to relevant financial, legal, and auditing regulations to ensure transparency, security, and comprehensive regulatory compliance.
