最新报道：Mill City Ventures III is changing its name to SUI Group Holdings to reflect its "new strategic direction," following the completion of a $450,000,000.00 private placement in late July to create a strategic Sui blockchain treasury. Sui Group's name change, confirmed in an August 25th press release, aligns with the company's vision to become the "premier" Sui (SUI)-focused treasury firm. The move also confirms its commitment to "unlocking differentiated, long-term value for shareholders by connecting our treasury to the blockchain infrastructure of the future." The rebrand also includes a change in ticker symbol from "MCVT" to "SUIG," which will take place on Tuesday. In his first interview since the rebrand, Sui Group Chairman Marius Barnett discussed the transition now with crypto.news. He also explained the catalysts behind his significant Sui stake and why it represents a superior option compared to a diversified portfolio of digital assets. He also addressed concerns about the platform's maturity and scale, outlined governance safeguards to maintain independence amidst its close ties to the Sui Foundation, and discussed what "activating" the treasury means beyond staking. Barnett laid out the company's plans to seek yield through lending, liquidity provision, insurance, and other strategies. He pointed to user and DeFi growth on Sui as key adoption signals, arguing that a "treasury arms race" could be emerging across networks and setting a five-year goal to establish a "Sui Bank" as the central liquidity hub for the ecosystem. Here's the full interview: crypto.news: Mill City Ventures, now known as Sui Group, practically transformed overnight from a lending company to a cryptocurrency holding company. You've said this move comes at a time when "cryptocurrency and AI are reaching a critical mass" and that Sui is "well-positioned for mass adoption." Why such a dramatic transformation now? How has your market outlook or strategy changed in recent months that led to the adoption of SUI as your primary treasury reserve asset? Marius Barnett: The transformation of Mill City Ventures into Sui Group (Sui Holdings) represents a deliberate evolution, stemming from our recognition of the convergence of technology and finance. The maturation of both cryptocurrency and AI presents unprecedented opportunities. The turning point stems from several key developments: the surge in institutional adoption of digital assets, as evidenced by the success of ETFs; the increasing integration of AI in blockchain applications; and a more constructive US regulatory environment. These favorable factors, combined with Sui's demonstrated readiness and accelerated growth, make it an ideal time to transform Mill City into Sui Group and launch a dedicated Sui treasury strategy. By allocating the treasury primarily to Sui, we are not only adapting but also strategically positioning Sui Group to seize this moment. We are creating not just a treasury company, but a "Sui Bank," creating long-term value for all stakeholders through a proprietary approach led by our founders and in close collaboration with the Sui Foundation. CN: Sui Group describes Sui as "one of the only blockchains built for mass adoption," with exceptional scalability, speed, and security. What unique advantages of Sui make you confident in placing your company's treasury on it? Have you considered a diversified multi-asset portfolio or betting on other established cryptocurrencies? MB: Sui is differentiated by its world-class team, formerly core contributors to Facebook's Diem project. While working on Diem, the team spent years and billions of dollars researching how to build a next-generation blockchain capable of serving billions of users. Building on these core principles, they created Sui to embody scalability, usability, and an unparalleled developer experience. We believe this is a once-in-a-lifetime opportunity and one that aligns with our future strategy. While carefully evaluating a diversified portfolio, we ultimately determined that Sui represents the highest-conviction opportunity at this time. Bitcoin excels as a store of value, Ethereum excels as a programmable settlement layer—and Sui's emphasis on usability, scalability, and ecosystem cohesion makes it ideally suited for mass adoption in DeFi, AI, and consumer applications. Our exclusive partnership with the Sui Foundation, combined with our proprietary yield strategy in lending and liquidity provision, enables us to achieve a differentiated position to maximize long-term value creation for our shareholders. BTC on Sui is a top priority in the ecosystem, and we intend to be very active in this space in due course. CN: Sui's mainnet isn't even two years old yet, so some of your critics have questioned the value of betting over $450,000,000 on such a young platform. What's your response? MB: Sui may be young, but its strong foundation and rapid maturity cannot be ignored. In less than two years, Sui has become a top-five blockchain by several key metrics—processing billions of transactions, exceeding $2,000,000,000.00 in TVL, and consistently outperforming major chains in user growth.Far from untested, Sui has already demonstrated real-world traction and is poised for widespread adoption. While still early in its lifecycle, Sui offers asymmetric upside. Just as early adopters of transformative technologies have historically been rewarded, we see a similar opportunity here: to play a leading role in a blockchain built for the future. Sui has the potential to grow 100x from its current level over the next 5-7 years, and Sui Group is determined to be at the center of this journey—building, innovating, and leading as the ecosystem expands. The scale of our commitment reflects our ambition: we aim to own 5-10% of the network over time and play a significant role in its success. CN: The Sui Foundation's involvement in your transaction is very interesting; to my knowledge, this is the only time they have matched your investment. Your firm also entered into an exclusive agreement with the Foundation for direct token purchases and "proprietary ecosystem insights." Could you provide some context on how you developed this partnership with Sui's core stakeholders? MB: Our partnership with the Sui Foundation is the product of a long-term relationship built over many years. We were an early investor in Sui and have since backed seven projects in the Sui ecosystem, developing a strong and mutually respectful relationship with the core team. Through this, we shared a common vision to build something transformative—positioning Sui Group as a leading steward of the Sui ecosystem and, more broadly, the future of cryptocurrency. We believe in proactive engagement, and this approach laid the foundation for what has become a groundbreaking collaboration in the space. The Foundation's decision to match our investment and expand the partnership to include direct token purchases and exclusive ecosystem insights reflects the depth of this arrangement. This partnership is unprecedented in both its scope and structure. It not only positions Sui Group as a strategic ally in driving Sui adoption, but also ensures that the relationship is built on transparency, regulatory compliance, and long-term value creation for all stakeholders. CN: As a follow-up to a previous question, does having the network's foundation as an investor or advisor in any way compromise Sui Group's independence? How do you ensure that decisions are in the best interests of shareholders and are not influenced by the Foundation's interests, which may differ from yours as a public company? MB: The combination of the Sui Foundation as an investor, Mysten Labs President Kevin Boon as an advisor to our board, and the OTC token purchase agreement strengthens our strategic capabilities without compromising Sui Group's independence. Our governance framework—grounded in NASDAQ compliance and independent board oversight—ensures that all decisions are made in the best interests of shareholders. We are a capitalist enterprise, not a charity, as reflected in the significant capital we invest. The Foundation's involvement provides us with valuable ecosystem intelligence, but if interests diverge, our obligation is to prioritize shareholder value first. In this sense, this partnership is symbiotic, enhancing our ability to innovate while retaining the autonomy necessary to fulfill our mission as a trusted treasury vehicle. CN: Your strategy is, and I quote, "not just passively holding tokens," but also "actively engaging with the [Sui] ecosystem to maximize long-term value creation." Can you elaborate on what "activating" your SUI holdings looks like? Will Sui Group invest in startups or dApps building on Sui, incubate projects, or collaborate with developers in some way? MB: Our strategy goes far beyond passively holding tokens. We are actively engaging with the Sui ecosystem to create a compounding flywheel of value. Activating our SUI holdings means deploying a differentiated treasury strategy led by an executive team and DeFi experts with backgrounds in capital markets, engineering, and infrastructure. A key example is our partnership with Galaxy Asset Management, which has made a significant investment in Sui Group and now serves as our asset manager. Through this partnership, we are pursuing strategies such as generating yield through lending, insurance, liquidity provision, and optimizing cross-protocol TVL—initiatives designed to consistently outperform standard staking returns. By combining these strategies with ecosystem partnerships, we aim to drive adoption, strengthen Sui's network effects, and increase the intrinsic value of our holdings. In doing so, we are positioning Sui Group as a dynamic "Sui Bank"—one that delivers sustainable growth and superior returns to shareholders. CN: What real signs of adoption have you seen with Sui that give you confidence in its long-term value? Sui's DeFi TVL has reached approximately $2,200,000,000.00, which, while impressive, is still a fraction of what more established chains can claim. So, what metrics or milestones are you most closely watching to determine if Sui is actually gaining the traction you expected? MB: Sui's adoption trajectory gives us confidence in its long-term value, supported by tangible metrics and milestones. Earlier this year, it surpassed 40 million monthly active users, ranking second among smart contract platforms. Applications like FanTV have attracted over 5 million wallets, while RECRD attracts nearly 500,000 users per day.On the DeFi front, Sui's TVL has surpassed $2,000,000,000.00, with transaction volume growing rapidly. For a chain less than two years old, this represents significant growth and clearly validates its design. Beyond the raw numbers, we're tracking institutional capital inflows, ecosystem partnerships, and developer activity, all of which indicate accelerating network effects. Taken together, these metrics reinforce our belief that Sui is not just another blockchain, but a platform poised to become the foundational AWS for the next generation of financial and consumer applications. CN: Are we witnessing the beginning of a "treasury arms race," where companies strategically align themselves with different cryptocurrency networks? If so, what will differentiate the winners from the losers in this space? Looking ahead, if others attempt to replicate this model on Sui or other blockchains, how do you plan to maintain Sui Group's advantage as the premier Sui investment vehicle? MB: We are likely at the beginning of a "treasury arms race," where companies strategically align themselves with specific cryptocurrency networks to capture the growth of digital assets. However, the real differentiator isn't opportunistic balance sheet plays—it's the teams that can execute strategies, build businesses, and create lasting value on top of these treasuries. Successful companies will be able to transform the foundation of their balance sheets into a foundation for long-term growth. Over time, these treasury companies will grow far beyond their initial state. Investors should pay attention to the people who lead them, because it will ultimately be these teams that determine whether treasuries become enduring businesses or acquisition targets for stronger players. For Sui Group, our advantage is clear: we are building "Sui Bank" with the goal of holding the most liquidity and becoming the central hub of the Sui ecosystem. By doing so, we are positioning Sui Group to transition from a lending business to what we believe is a true cryptocurrency gladiator in the public markets. CN: Finally, what is Sui Group's ultimate goal? Is the vision simply to hold and accumulate SUI indefinitely? What do you hope Sui Group will achieve in five years with this bold Sui bet? MB: Our ultimate vision for Sui Group is to grow into a "Sui Bank" worth hundreds of billions of dollars, an institutional cornerstone of the Sui ecosystem and the broader cryptocurrency space. While strategically accumulating Sui is core to our approach, it's only part of the story. We combine long-term holding with active management strategies that generate yield, deepen liquidity, and drive ecosystem adoption. In five years, we envision Sui Group becoming the clear market leader in the cryptocurrency treasury space—controlling liquidity, operating critical infrastructure, and building a business far beyond our origins.