23h ago
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.
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