The $1 billion Ethereum treasury plan led by Li Lin, Xiao Feng, and others has been shelved.

On November 19, according to reports from Wu Shuo, the $1 billion Ethereum treasury plan led by Li Lin, Xiao Feng, Shen Bo, Cai Wensheng, and others has been shelved, and the funds raised have been returned. This plan is the largest DAT led by Asian investors, and industry insiders speculate that the main reason for its stagnation is the bear market following the 1011 incident, which has also seen a significant fall in stock prices of many DAT companies recently. Regarding whether the plan will be restarted, relevant personnel stated that the interests of investors will be prioritized, and it is currently pending market observation, to act in accordance with the situation. It is reported that the current mainstream Ethereum treasury (DAT) companies mNAV have all fallen below 1, with Bitmine dropping to 0.86 and SharpLink falling to 0.85. Previously, Bloomberg reported that Li Lin was collaborating with Shen Bo, Xiao Feng, and Meitu founder Cai Wensheng, among other early Asian Ethereum supporters, to establish a new digital asset trust fund, planning to initially purchase about $1 billion worth of ETH. The team is negotiating the acquisition of a NASDAQ-listed shell company for structural setup, with funds including $200 million contributed by Li Lin's Avenir Investment Company and about $500 million from Asian institutions such as Sequoia China.