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Endra Life Sciences Inc. (NASDAQ:NDRA), a micro-cap company with a market value of $4.89 million and current ratio of 3.85, announced Wednesday that its board of directors has authorized the company to develop and pursue a cryptocurrency treasury strategy. As part of this initiative, Endra has retained Anchorage Digital Bank, N.A. to serve as custodian for its cryptocurrency assets and engaged Arca Investment Management, LLC to manage the company’s cryptocurrency holdings and implement a bitcoin-based income-generating strategy.
In connection with this new strategy, Endra’s board formed a Cryptocurrency Advisory Board to assist in developing and managing its cryptocurrency treasury activities. The advisory board appointments include James Altucher, an entrepreneur and former hedge fund manager; James Manning, founder and CEO of Mawson Infrastructure Group; and Rayne Steinberg, co-founder and CEO of Arca Investment Management, LLC.
The company stated that these developments are part of its efforts to expand its treasury management practices. The information is based on a press release statement included in a filing with the Securities and Exchange Commission.
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