A group of Asia’s most prominent Ethereum backers are reportedly planning to acquire a Nasdaq-listed company to establish a $1B Ethereum-focused digital asset treasury (DAT), according to Bloomberg. > The effort is led by Huobi founder Li Lin, Fenbushi Capital’s Shen Bo, HashKey Group CEO Xiao Feng, and Meitu founder Cai Wensheng. > Avenir Capital, chaired by Li Lin, has pledged $200M, with additional commitments from major investors including HongShan Capital Group. > Each participant has deep ties to Ethereum’s early ecosystem. > Fenbushi Capital co-launched with Vitalik Buterin in 2015, while HashKey’s Feng recently partnered with Buterin to form the Ethereum Applications Guild. > Meitu’s Wensheng was also one of the first corporate figures in China to hold a crypto treasury, accumulating over 10,000 BTC during the 2018 bear market.