Huobi Founder Raises $1B to Back Ether Trust via Nasdaq Shell

Deal Summary

Li Lin and partners raised about $1 billion to fund an Ether accumulation strategy through a Nasdaq‑listed shell company, backing a forthcoming Ether trust. Major commitments included $500M from HongShan Capital Group and $200M from Avenir, with participation from Fenbushi Capital, HashKey Group and Meitu founder Cai Wensheng.