Huobi Founder Secures $1 Billion for New Ether Investment Initiative
Li Lin, founder of Huobi, has raised substantial funds to invest in Ether, preparing to launch a trust in collaboration with key industry partners.
Li Lin, founder of the cryptocurrency exchange Huobi and chair of Avenir Capital, has successfully raised approximately $1 billion to invest in Ether. This initiative is reportedly backed by significant figures in the cryptocurrency industry.
According to Thursday’s report by Bloomberg, Li has partnered with Shen Bo, co-founder of Fenbushi Capital, Xiao Feng, CEO of HashKey Group, and Cai Wensheng, the founder of Meitu. They are set to establish an Ether accumulation strategy via a Nasdaq-listed shell company, with the recent funding round including $500 million from HongShan Capital Group and $200 million from Avenir.
Supporters of Ether plan to reveal the details of the trust in the next few weeks.
“Prior to this, Li founded the Huobi exchange back in 2013 and later sold it to crypto entrepreneur Justin Sun.”
“Antes de esto, Li fundó el intercambio Huobi en 2013 y luego lo vendió al empresario criptográfico Justin Sun.”
As noted in the article, the price of ETH was reported at $3,857, having increased more than 9% over the last week. The strategic moves of Avenir Capital, which holds about 16.5 million shares of BlackRock’s iShares Bitcoin Trust, are expected to influence the broader cryptocurrency investment landscape.
