🔵 Canadian company Luxxfolio plans to raise $73 million to increase its holdings in Litecoin (LTC). According to Decrypt, on August 29, Canadian crypto infrastructure company Luxxfolio submitted a prospectus on Thursday, planning to raise up to 100 million Canadian dollars (73 million USD) to expand its Litecoin (LTC) treasury strategy. Once approved, Luxxfolio's prospectus will allow it to raise funds through the issuance of stocks, debt, or other securities over a period of 25 months. The company's goal is to acquire 1 million Litecoins by 2026. A few months ago, the company became the first publicly traded company to anchor its funding in Litecoin after completely abandoning Bitcoin mining. According to the latest quarterly financial report, the company's main signs of pressure include no revenue, a net loss of approximately $197,000 in the second quarter (compared to a net loss of $8,000 in the same period last year), and a more than doubling of losses over nine months. At the end of the second quarter this year, the company had only $112,000 in cash and relied on $844,000 in private placement financing to maintain operations, with total losses nearing $19 million since its establishment in 2017.