NASDAQ-Listed Mill City Ventures III has completed a major $ 450 million private placement to prevent its commercial strategy towards Cryptocurrency with a SUI Treasury.
The non-bank lender and special finance company announced on Monday that it had processed about $ 450 million by selecting 83 million shares to the institute.
The offer includes investment from Pantera Capital, Electric Capital, Parafi Capital, Arington Capital, Falcon and other venture firms. The Galaxy Asset Management will work as Treasury Asset Manager.
The firm plans to use 98% procedures for the native cryptocurrency of layer -1 needle blockchain, the native cryptocurrency of layer -1 needle blockchain, the native cryptocurrency of Layer -1 needle blockchain, while maintaining 2 for its current short -trikum lending business.
The Mill City claims that there is a “industry-first” relationship with the needle Foundation and the first public company Sui Treasury.
Why invest in SUI?
Commenting on why the needle was selected for the firm’s axis for Crypto, the upcoming Chief Investment Officer Stephen plays McIntosh, it was at a time when “Crypto and important mass reach.”
“We believe that SUI is well occupied for mass adoption with speed and efficiency, is required for crypto on a scale, as well as able to support the AI workload while maintaining technical architecture safety and decentralization, maintaining technical architecture safety and decentralization,” he said.
Connected: Tokenized ESG assets on assets with SUI Blockchain Partner with Ant Digital
“The future belongs to Crypto, AI, and Stabecrimons-and they require all infrastructure that can handle the actual scale. Needle blockchain backers.
In February, Christian Thompson, Managing Director of the Sui Foundation, Tola co -operatives, he saw opportunities with the convergence of technologies, such as AI agents were integrated into blockchases.
Needle deci surge
In addition to the AI focus of the SUI, the ecosystem has also seen an increase in decentralized finance activation. According to Defilama, Onchen Value hit a high level of $ 2.22 billion in the weekend $ 2.22 billion, which is about 400% of sins after the increase of July 2024, according to the defilage.
On Sunday, Asset Manager 21 shares highlighted SUI’s top Defi Protocol: Suilend, NAVI and Hadal, with $ 1.7 billion TVL for significant benefits in the previous month.
Needle price dips
There has been no positive response to Treasury News on the spot markets, with the price of 11% of the needle in the last 24 hours, in line with a comprehensive crypto market retreat, especially for altcoins.
Blockchain hit an all -time high level of $ 5.35 in January, but then 27% severely retreated.
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