A publicly traded U.S. finance firm is taking an aggressive approach to building a crypto treasury, committing heavily to the Sui blockchain despite a sharp pullback in its share price.
The company revealed it is negotiating a fresh $500 million equity deal to expand its position—just days after securing $450 million to acquire over 76 million SUI tokens valued at $276 million.
The strategy centers on operating what it claims is the only publicly listed Sui treasury with direct ties to the Sui Foundation. Executives say the goal is to give investors streamlined exposure to the network through a publicly traded vehicle, while scaling the number of SUI tokens represented per share.
Sui, a layer-1 blockchain optimized for fast, scalable workloads in sectors like gaming and AI, has quickly become the centerpiece of this approach. The move reflects a growing shift among listed companies to diversify beyond Bitcoin and Ethereum into alternative digital assets, with others recently adding BNB, Solana, and XRP to their balance sheets.
Market reaction was immediate. Shares of the company slid 11.4% to $4.91 on Friday, followed by another drop in after-hours trading. The decline came even as the stock remains more than 160% higher than it was before the Sui treasury initiative was announced in late July.
The original $450 million raise was backed by high-profile investors, including Pantera Capital, Electric Capital, ParaFi Capital, and FalconX, with Galaxy Asset Management tasked with managing the treasury. Nearly all of the proceeds were allocated to Sui acquisitions, with only a small portion set aside for the firm’s short-term lending operations.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/this-company-bought-276m-in-sui-now-its-raising-another-500m/