Li Lin, the founder of Cryptocurrency Exchange Huobi and chairman of investment company Avenir Capital, has reportedly raised nearly $1 billion as part of a strategy to invest in ether.
According to a Bloomberg report on Friday, Li has Worked together In Fenbushi Capital Co-founder Shen Bo, Hashkey Group CEO Xiao Feng, and Meitu founder Cai Wensheng to launch a strategy to accumulate ether through a listed Shell Company of Nasdaq. The project has raised $1 billion, which includes $500 million from Hongshan Capital Group and $200 million from Avenir.
With ether support (Eth) supporters, the group plans to announce the launch of the trust in two to three weeks.
https://www.youtube.com/watch?v=rahu7cikfj0
Li founded Huobi Exchange in 2013, later selling the company to crypto entrepreneur Justin Sun. Tensions between two individuals including usage lawsuits of the word Huobi Global and Accusations of fraud.
Related: 95% of corporate eth buy happened in Q3 – start of ether supercycle?
According to data from Nansen, the price of ETH was $3,857 at the time of publication, having climbed more than 9% in the past seven days.
Avenir is a leading bitcoin holder
The investment firm reported holding nearly 16.5 million shares of the ISHARES Bitcoin Trust Exchange fund traded by BlackRock, or ibit, in August. It’s faster to buy other tokens like Ether and Solana (Sol) – The Company participate in the launch A $500-million Solana Treasury in September-could significantly affect investment strategies in the crypto industry.
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