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Benzinga
Benzinga
Business
Murtuza J Merchant

SUI Joins Bitcoin, Ethereum With Its Own Treasury Company: Look Who's Building A $450 Million Reserve

SUI Bitcoin Ethereum Strategy Christian Thompson blockchain Crypto SEC
Sui,Cryptocurrency,Images,On,Digital,Background.,3d,Illustration.

Mill City Ventures III, Ltd. (NASDAQ:MCVT), a non-bank lender and specialty finance company, announced a $450 million private placement to adopt a Sui (CRYPTO: SUI) treasury strategy, marking a significant shift toward blockchain investment.

The company will allocate 98% of the net proceeds to acquire SUI tokens, the native cryptocurrency of the Sui blockchain, positioning itself as the sole SUI treasury supported by the Sui Foundation.

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