Nasdaq-listed lender Mill City Ventures III, Ltd. has announced a $450 million private placement aimed at acquiring SUI tokens as its primary treasury reserve asset. According to the company’s filing, the transaction is set to close by Thursday and will direct 98% of the proceeds toward purchasing SUI. This represents one of the largest institutional allocations to a blockchain-native token to date, positioning Sui within the scope of publicly traded corporate treasury strategies.
Mill City Reshapes Leadership and Secures Institutional Backing for $450M Sui Allocation
The placement follows SEC exemptions and includes leadership changes to guide Mill City’s shift toward blockchain-based finance. After closing, Marius Barnett, co-founder of Karatage, will become board chairman. Stephen Mackintosh, also from Karatage, will assume the role of chief investment officer. Dana Wagner will join as an independent director. These changes align with Mill City’s plan to integrate blockchain assets and increase its digital market exposure.
The initiative has backing from Karatage Opportunities, Galaxy Digital, and the Sui Foundation, along with investors such as Pantera Capital, Electric Capital, and ParaFi. Galaxy Asset Management will manage execution through open-market purchases and institutional agreements. This structure shows growing links between traditional finance and blockchain and underscores confidence in Sui as a Layer-1 platform.
Mill City’s $450M Move Positions Sui as a Treasury-Grade Asset in Public Markets
Sui’s architecture supports high throughput and decentralized application development, attracting firms seeking diversification into crypto-backed strategies.
Mill City positions SUI as a treasury-grade asset and becomes one of the first public companies to add such tokens under regulated oversight. This move could shape future corporate engagement with crypto-native assets as financial institutions expand beyond traditional holdings.
The placement’s scale and compliance signal a shift toward structured exposure to blockchain tokens in public markets. Capital deployment, leadership changes, and strong backing highlight growing alignment between listed financial firms and blockchain infrastructure.
SUI Forms Ascending Triangle Pattern with Potential for 112% Upside
TheSUI/USDT daily chart, created on July 31, 2025, shows an ascending triangle pattern forming above the 50-day Exponential Moving Average (EMA) at $3.51. Traders identify an ascending triangle as a bullish continuation pattern because it combines a horizontal resistance line with a rising trendline support. This structure signals accumulation as buyers steadily push higher lows while testing the same resistance level, indicating mounting pressure for a breakout.
The chart shows price consolidation near $3.91 with repeated tests of upper resistance. If it breaks out, SUI could rise 112% toward $8.39. This target comes from measuring the triangle’s height and applying it to the breakout level.
Volume trends confirm steady buying interest. The Relative Strength Index (RSI) at 55.70 stays neutral and allows more upside. A breakout above resistance supports bullish momentum. However, losing support may delay the move.
The structure, combined with technical signals and institutional interest, strengthens SUI’s potential if the ascending triangle confirms.
