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Mill City Ventures raised $450M to build a SUI treasury
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Stock surged 270% over five days
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Joins growing list of public companies buying altcoins
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Backed by crypto VCs like Galaxy Digital and Pantera
Public Lender Joins Altcoin Treasury Trend
Mill City Ventures III, a Nasdaq-listed lender, has announced a $450 million private placement to acquire SUI tokens on the open market. The company’s stock surged nearly 270% over five days following the announcement, as investors responded to its crypto treasury pivot.
SUI is the 15th largest cryptocurrency by market cap and was developed by former Meta engineers. Mill City said SUI’s high throughput and AI-friendly design made it a prime candidate for institutional-scale adoption.
Backed by Major Crypto Investors
The deal was led by Karatage and supported by heavyweights like Galaxy Digital, Big Brain Holdings, FalconX, and Pantera Capital. According to CIO Stephen Mackintosh, Mill City aims to position SUI as a long-term strategic asset on its balance sheet.
This follows a broader movement of public companies—including CEA Industries, Semler Scientific, and Metaplanet—adopting altcoin treasuries to elevate stock performance and embrace Web3 transformation narratives.
