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Bloomberg: Li Lin transfers 20-person trading team to Hong Kong-listed company Bitfire
Odaily Planet Daily News reports that Li Lin is transferring his entire family office, Avenir Group, with its roughly 20-person trading team, to the Hong Kong-listed wealth management company Bitfire Group. It is understood that Li Lin holds a 30% stake in Bitfire to help the company attract more private banking clients. Bitfire CEO Livio Weng said that Bitfire will acquire the team and its trading systems from Avenir Group. Avenir confirmed the deal. With the addition of the new team, Bitfire has received around $500 million in initial investment intent from family offices and publicly listed companies. (Bloomberg)