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With Galaxy as Asset Manager and Investor, Mill City to Scale SUI Treasury for the Long-Term
$450 Million SUI Treasury Marks Largest on the Public Markets Today, Only Foundation-Supported Treasury Strategy
Mill City Ventures III, Ltd. ("Mill City" or the "Company") (NASDAQ:MCVT), the only publicly traded SUI treasury, today announced a strategic partnership with leading digital asset firm Galaxy Digital Inc. (TSX:GLXY).
Galaxy Asset Management, a division of Galaxy Digital, will serve as the asset manager for the $450 million SUI treasury strategy at Mill City, the largest SUI treasury on the public markets today. Galaxy Digital is also a significant investor in Mill City and participated in the recent $450 million private placement that Mill City is using to initiate its SUI treasury strategy. With Galaxy as both asset manager and investor, Mill City is positioned to scale its SUI treasury strategy for the long-term.
"Sui is the infrastructure layer for the next chapter of the internet. That is why Mill City is focused on holding SUI for the long term," said Stephen Mackintosh, Chief Investment Officer of Mill City and Co-Founder of Karatage, lead investor in the private placement. "Having the support of Galaxy as both asset manager and investor is a major unlock. Their institutional-quality infrastructure will allow us to actively manage our SUI treasury for both today and tomorrow. By working with Galaxy, we are getting closer to realizing the Web3 future that only Sui can make possible."
