Li Lin plans to establish a US$1 billion Ethereum asset management company

According to Foresight News, according to Bloomberg citing people familiar with the matter, former Huobi founder Li Linzheng has cooperated with early Ethereum supporters in Asia such as Fenbushi Capital co-founder Shen Bo, HashKey Group CEO Xiao Feng, Meitu founder Cai Wensheng, etc. to establish a new digital asset trust fund, aiming to accumulate ETH worth approximately US$1 billion. The group is in talks to acquire a Nasdaq-listed shell company to advance the structure of the trust.


The project has raised about $1 billion, including $200 million from Li Lin's Avenir Group and $500 million from Asian institutional investors including Sequoia Capital Group, the people added. Negotiations are ongoing and details of the plan could still change, one of the people said. An announcement on the fund's launch is expected within two to three weeks, people familiar with the matter said.

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