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The $1 Billion Ethereum Treasury Plan Led by Li Lin and Xiao Feng Has Been Shelved
BlockBeats News, November 19th, according to the well-known media personality Wu Shuo, the $1 billion Ethereum Treasury Plan led by Li Lin, Xiao Feng, Shen Bo, Cai Wensheng, and others has been put on hold, and the funds raised have been returned. This plan was the largest DAT led by Asian investors. Insiders speculate that the main reason for the suspension was the bearish market trend after the 1011 incident, with many DAT companies' stock prices experiencing a significant decline recently. As for whether the plan will be restarted, those involved have stated that they will prioritize the interests of investors. The current situation is still under market observation, waiting for the right timing.
It is reported that the current mainstream Ethereum Treasury (DAT) companies have all fallen below an mNAV of 1, with Bitmine dropping to 0.86 and SharpLink dropping to 0.85.
Earlier, according to Bloomberg, Li Lin was collaborating with Shen Bo, Xiao Feng, and Meitu founder Cai Wensheng, among others, early Ethereum supporters in Asia, to establish a new digital asset trust fund with plans to initially purchase approximately $1 billion worth of ETH. The team is in talks to acquire a Nasdaq-listed shell company for structural setup, with funding including $200 million from Li Lin's Avenir Investment Company and around $500 million from Asian institutions like Sequoia China.
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