On November 19, according to Wu, the $1 billion Ethereum DAT plan led by Li Lin and Shen Bo, Xiaofeng and Cai Wensheng has been shelved, and the funds raised have been returned. The plan is the largest DAT led by Asian investors. Industry insiders speculate that the reason for the stranding is mainly due to the bear market after the 1011 incident. Recently, a large number of DAT companies' stock prices have also fallen sharply. Regarding whether the plan will be restarted, relevant people said that the interests of investors will be put first, and it remains to be observed by the market.
According to an earlier Bloomberg report, Li Lin (founder of Huobi) is working with Bo Shen (co-founder of Distributed Capital), Xiaofeng (CEO of HashKey) and Meitu founder Cai Wensheng and other early Ethereum backers in Asia to build a new digital asset trust, with plans to initially purchase ETH worth about $1 billion. The team is in talks to acquire a Nasdaq-listed shell company for structuring, with funding already including $200 million from Li Lin's Avenir Investment Company and about $500 million from Asian institutions such as Sequoia China.
$1 billion Ethereum DAT has been shelved, once led by Li Lin, Shen Bo, Xiao Feng and Cai Wensheng
2025-11-19 05:11:57
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