1 billion USD Ethereum DAT has been shelved, previously led by Li Lin, Shen Bo, Xiao Feng, and Cai Wensheng

According to reports from Wu Shuo, the $1 billion Ethereum DAT plan led by Li Lin, Shen Bo, Xiao Feng, Cai Wensheng, and others has been shelved, and the funds raised have been returned. This plan was the largest DAT led by Asian investors, and industry insiders speculate that the main reason for its suspension is the bear market following the 1011 incident, as many DAT companies have also seen significant stock price declines recently. Regarding whether the plan will be restarted, relevant parties have stated that investor interests will be prioritized, and it remains to be seen how the market will develop.

According to an earlier report by Bloomberg, Li Lin (founder of Huobi) is collaborating with Shen Bo (co-founder of Distributed Capital), Xiao Feng (CEO of HashKey), and Cai Wensheng (founder of Meitu), among other early Ethereum supporters in Asia, to establish a new digital asset trust fund, with an initial plan to purchase approximately $1 billion worth of ETH. The team is negotiating to acquire a Nasdaq-listed shell company for structural setup, with funds including $200 million from Li Lin's Avenir investment company and about $500 million from Asian institutions such as Sequoia China.