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The board of directors of LIXTE Pharmaceuticals approved allocating 25% of financial reserves to Crypto Assets.
[Block Rhythm] On August 13, 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 crypto assets into the company's financial reserves. The board approved allocating up to 25% of the company's financial reserves to crypto assets, including Bitcoin and other digital assets selected as appropriate.
The timing and scale of any such transactions will depend on the market conditions and other strategic considerations at the time. LIXTE will continue to closely monitor developments in the digital asset space and retain the flexibility to adjust its positions. The company plans to hold all Crypto Assets in fully regulated and compliant custodians. All future transactions will strictly adhere to relevant financial, legal, and audit regulations to ensure transparency, security, and comprehensive regulatory compliance.