Huobi Founder Raises $1 Billion to Purchase Ether

Li Lin, the founding father of a significant cryptocurrency change and the present president of Avenir Capital, has reportedly raised roughly $1 billion to fund a large-scale funding technique centered on Ethereum (ETH).

In keeping with current studies, Li has joined forces with outstanding figures within the crypto trade, together with Shen Bo (co-founder of Fenbushi Capital), Xiao Feng (CEO of HashKey Group), and Cai Wensheng (founding father of Meitu). The group goals to launch an modern Ether accumulation technique via a Nasdaq-listed shell firm. The initiative has already secured appreciable backing — $500 million from HongShan Capital Group and $200 million from Li’s personal agency, Avenir Capital.

Sources near the venture say the group intends to formally launch the Ethereum-focused belief inside two to a few weeks, bolstered by sturdy help from the ETH investor neighborhood.

Li Lin initially based the cryptocurrency change in 2013, later promoting it to well-known crypto determine Justin Solar. Following the acquisition, disputes between the 2 events escalated into lawsuits, primarily over using the corporate’s authentic identify and allegations of fraudulent conduct.

On the time of writing, knowledge reveals that the value of Ethereum has risen to $3,857 — reflecting a 9% improve over the previous seven days — signaling bullish investor sentiment within the broader market.

Avenir Capital stays a big participant within the digital asset funding area. As of August, the agency reported holding over 16.5 million shares in a outstanding Bitcoin exchange-traded fund. Avenir has additionally diversified into different tokens corresponding to Ethereum and Solana (SOL). In September, the corporate participated within the launch of Solana’s $500 million ecosystem treasury, additional increasing its affect throughout the crypto sector.

This strategic pivot by main buyers underscores a rising shift towards long-term cryptocurrency accumulation fashions and is more likely to have lasting impacts on future digital asset funding traits.

Key Takeaways:

– Li Lin has raised $1 billion to spend money on Ethereum by way of a Nasdaq-listed entity.
– The initiative has backing from main gamers, together with HongShan Capital and Avenir Capital.
– Ethereum’s market worth not too long ago rose to $3,857, reflecting sturdy investor curiosity.
– Avenir stays a key institutional holder of each Bitcoin and Solana.

Tags: Ethereum funding | Crypto technique | Avenir Capital | Li Lin | ETH value | Institutional crypto funding | Solana | Bitcoin ETF holdings