Odaily Planet Daily reports that publicly listed company LiveOne (NASDAQ: LVO) has released a shareholder letter stating that it has successfully completed a $45 million restructuring plan, achieving significant cost savings. The company has currently deployed $5 million in Bitcoin holdings and is collaborating with Arca to execute a Bitcoin income strategy.

The Board of Directors approved a capital authorization of up to $500 million to expand LiveOne's crypto asset reserve strategy and expand its Web 3 strategy to tokenize and monetize over 10,000 hours of video content on-chain.