The Mill City City Ventures III, which is listed on the Nasdaq Stock Exchange, has completed a special special place worth $ 450 million to determine its commercial strategy towards the encrypted currency with the Treasury.
Non -bank lender and a specialized financial company Declare On Monday, it raised about 450 million dollars by selling 83 million shares to institutional investors.
The offer includes investment from Pantera Capital, Electric Capital, Parafi Capital, Arrington Capital, Falconx and other project companies. Galaxy Asset Management will act as the Director of Treasury Assets.
The company plans to use 98 % of revenues to get SUI (but) Codes, the original cryptocurrency in the Sui Blockchain layer, such as the basic origin of the cabinet, while maintaining 2 % for current short -term lending.
Mail City claims that this is a relationship “first in industry” with the Sui Foundation and the first public company Sui Treasury.
Why do you invest in only?
Commenting on the reason why SUI chose the company’s axis to Crypto, the next chief investment official, Stephen McCainch, said that at a time when “Crypto and AI and AI reach the critical mass.
He added: “We believe that SUI is in a good position for collective adoption with the speed and efficiency institutions required by encoding on a large scale, in addition to technical architecture capable of supporting the burdens of artificial intelligence work while maintaining security and decentralization.”
Related to: Sui Blockchain Partners with Ant Digital on the distinguished ESG assets
“The future belongs to Crypto, AI, and Stablecoins- and they all need infrastructure that can deal with the real range. This is SUI,” said Adeeni Abiudon, co-founder and chief product official at Mysten Labs, Sui Blockchain supporter.
In February, the administrative director of the Sui Christian Thompson told Cointelegraph that he Seen With the convergence of technologies, such as Artificial intelligence agents Integrated in Blockchains.
Sui Defi factors
In addition to the SUI concentration of artificial intelligence, the ecological system also witnessed an increase in decentralized financing activity. Onchain’s value was the highest level ever at $ 2.22 billion during the weekend, after an increase of approximately 400 % since July 2024, According to To Devilia.
Sunday, Director of Asset 21 Shares High The best SUI: Suilend, Navi, and Haedal, which had $ 1.7 billion between them after great gains during the past month.
SUI price decreased
There was no positive reaction to the cabinet news in the immediate markets, with Serial price They connect 11 % over the past 24 hours, in line with the decline in the broader encryption market, especially for Altcoins.
The Blockchain code has ever reached its highest level at $ 5.35 in January, but it fell 27 % since then.
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