Bloomberg: Li Lin has transferred his Avenir Group trading team to Bitfire Group and has received approximately $500 million in investment intentions.

robot
Abstract generation in progress

On April 22, Bloomberg reported that cryptocurrency tycoon Li Lin is transferring his family office Avenir Group’s entire trading team of about 20 people to the wealth management company BitfireGroup, in which he holds a 30% stake, to help the company attract more private banking clients.
Livio Weng, CEO of Hong Kong-listed Bitfire, said in an interview that Bitfire will acquire the team and its trading system from Avenir Group. Avenir confirmed the deal. With the addition of the new team, Bitfire has obtained approximately $500 million in initial investment intention from the family office and the listed company. Bitfire launched its private banking business in August last year and has since added about 300 clients, mainly including family offices, listed companies, and high-net-worth individuals. The company plans to expand its trading strategies for Ethereum and stablecoins later this year. It is expected that the company’s private banking business will exceed $1 billion in assets under management within two years.

ETH4.56%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin