Galmed Embraces Crypto: Launches $10 Million Digital Asset Strategy

Galmed Pharmaceuticals, a clinical-stage pharmaceutical company, has made a bold move by allocating up to $10 million of its cash reserves into digital assets. This strategic decision signifies a significant shift in their approach to financial management, as they aim to leverage the opportunities presented by cryptocurrency. The company will use this allocation to explore various strategies within the DeFi ecosystem, including covered-call options, staking, and lending, with the goal of generating yield and diversifying its holdings.