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Title: Sui (SUI) and Binance Coin (BNB) Attract Over $1B Combined from Corporate Investors
Two publicly traded companies have announced a significant influx of capital into the top-tier altcoin market, as CEA Industries Inc. (Nasdaq: VAPE) and Mill City Ventures III, Ltd. (NASDAQ: MCVT) have collectively raised over $1 billion to invest in Binance Coin (BNB) and Sui (SUI), respectively.
In a groundbreaking move, CEA Industries Inc. has led the charge with a staggering $500 million fund raise aimed at establishing the largest BNB treasury management vehicle. The net proceeds from this offering will be used to further solidify BNB’s position as a premier institutional investment opportunity. CEO-designate David Namdar emphasized the importance of transparency and accessibility in this endeavor, stating that “BNB Chain is one of the most widely used blockchain ecosystems globally, yet institutional access has been limited until now. By creating a U.S.-listed treasury vehicle, we are opening the door for traditional investors to participate in a transparent way.”
Meanwhile, Mill City Ventures III, Ltd., a non-bank lender and specialty finance company, has also made significant headway by closing a $450 million offering to purchase Sui coins primarily. A slew of high-profile fund managers participated in this endeavor, including Galaxy Digital Inc. (Nasdaq: GLXY), Electric Capital, GSR, Selini, Protagonist, ParaFi Capital, Borderless, dao5, Arrington Capital, Comma3 Ventures, FalconX, and Paper Ventures.
The announcements have sent shockwaves through the cryptocurrency community, with many experts interpreting this influx of capital as a sign that top-tier altcoins are poised for significant growth in the coming months. The market impact is undeniable, as the demand for these coins has never been higher.
Source: coinpedia.org
