The board of directors of the publicly traded company LiveOne approved a $500 million funding authorization to expand its cryptocurrency treasury reserves

ChainCatcher news, according to GlobeNewswire, LiveOne, a Nasdaq-listed company, CEO Robert Ellin released a shareholder letter disclosing that its board has approved a $500 million funding authorization to expand its cryptocurrency asset treasury reserves.

The company had previously invested over $5 million in purchasing Bitcoin and also completed a $6.5 million stock buyback.