Minneapolis-based Nasdaq-listed lender Mill City Ventures III has secured $450 million in private funding to pivot toward building a cryptocurrency treasury centered on the Sui blockchain's token, SUI. With backing from top crypto funds like Pantera Capital and Galaxy Asset Management to oversee the treasury, 98% of the capital will be invested in SUI tokens. This initiative marks the first publicly listed company treasury focused on the fast-growing Sui ecosystem, which recently hit a record $2.22 billion in DeFi total value locked. Despite the strong institutional support, SUI tokens experienced an 11% decline amid broader altcoin weakness. Industry experts caution about the risks and sustainability of corporate crypto treasuries amid maturing markets.
Continue to read Mill City Ventures Raises $450M to Establish Pioneering Sui Crypto Treasury
Minneapolis-based Nasdaq-listed lender Mill City Ventures III has secured $450 million in private funding to pivot toward building a cryptocurrency treasury centered on the Sui blockchain's token, SUI. With backing from top crypto funds like Pantera Capital and Galaxy Asset Management to oversee the treasury, 98% of the capital will be invested in SUI tokens. This initiative marks the first publicly listed company treasury focused on the fast-growing Sui ecosystem, which recently hit a record $2.22 billion in DeFi total value locked. Despite the strong institutional support, SUI tokens experienced an 11% decline amid broader altcoin weakness. Industry experts caution about the risks and sustainability of corporate crypto treasuries amid maturing markets.
Continue to read Mill City Ventures Raises $450M to Establish Pioneering Sui Crypto Treasury
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