LiveOne Board of Directors Approves $500 Million Funding Authorization to Expand Cryptocurrency Reserves

BlockBeats News, on October 1, music, entertainment, and technology company LiveOne released a shareholder letter stating that LiveOne has successfully completed a $45 million restructuring plan, achieving significant cost savings. Currently, $5 million has been deployed into Bitcoin asset holdings, and a Bitcoin yield strategy is being executed in cooperation with Arca.

The board of directors has approved funding authorization of up to $500 million to expand LiveOne's crypto asset reserve strategy. The company is expanding its Web3 strategy by putting over 10,000 hours of video content on-chain, tokenizing, and monetizing it.

The stock price of a certain exchange is currently reported at $4.215, with an opening increase of 2.06% today, and the market capitalization has risen to $48.64 million.