Huobi Founder Li Lin to Launch $1 Billion Ethereum-Based Crypto Treasury
Li Lin, founder of Huobi, is leading a $1 billion Ethereum trust alongside Asia’s early Ethereum investors, aiming to acquire a Nasdaq-listed company and capitalize on growing institutional interest in Ether.
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Summary
Li Lin, founder of Huobi, is leading a $1 billion Ether trust alongside influential Ethereum investors such as Shen Bo, Xiao Feng, and Cai Wensheng. The group is in talks to acquire a Nasdaq-listed company to structure the trust. The trust aims to capture institutional interest in Ether as the market grows, with $200 million committed by Avenir Capital and $500 million from regional institutional players. Institutional interest in Ether continues to rise, with over $16.9 billion worth of Ether held by publicly listed companies.
Terms & Concepts
- Ethereum: A decentralized, open-source blockchain with smart contract functionality, enabling programmable applications and digital assets.
- Ether (ETH): The native cryptocurrency of the Ethereum blockchain, used for transactions and as a store of value in decentralized applications.
- Crypto Treasury: A blockchain-based financial reserve system that manages cryptocurrency assets for investment or operational purposes.