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

ChainCatcher news, music, entertainment, and technology company LiveOne (NASDAQ: LVO) has released a shareholder letter, announcing that LiveOne has successfully completed a $45 million restructuring plan, achieving significant cost savings. Currently, $5 million has been deployed in Bitcoin asset holdings, and a partnership with Arca has been established to execute a Bitcoin yield strategy.

The board has approved a funding authorization of up to $500 million to expand LiveOne's cryptocurrency asset reserve strategy. The Web3 strategy will be expanded to put over 10,000 hours of video content on-chain and to tokenize and monetize it. LVO's stock price is currently reported at $4.215, with a 2.06% increase at today's opening, raising the market capitalization to $486.4 million.