Nasdaq-Listed Mill City Ventures Allocates $450M to SUI Treasury in Bold Crypto Pivot

[TRADE_PLUGIN]SUIUSDT,SUIUSDT[/TRADE_PLUGIN] SUI News - Mill City Ventures III, a Nasdaq-listed non-bank lender, has raised $450 million in a private placement to shift its focus toward cryptocurrency. The Minneapolis-based company plans to invest 98% of the funds in Sui (SUI), the native token of the Sui blockchain, establishing the first public company treasury dedicated to the asset. Galaxy Asset Management will manage the treasury. Despite this bullish move, SUI's price fell 11% amid broader altcoin market weakness. Institutional investors such as Pantera Capital and Arrington Capital participated in the funding round. Incoming CIO Stephen Mackintosh described the pivot as a strategic bet on the convergence of crypto and artificial intelligence, highlighting Sui's technical architecture as ideal for institutional adoption.