Li Lin has restructured his family’s trading team. Li Lin, founder of Huobi, is integrating the 20-person trading team and its trading system from his family office, Avenir Group, into Bitfire Group, a Hong Kong-listed company in which he holds a 30% stake. The transaction has been confirmed, and Bitfire has immediately received approximately $500 million in initial investment commitments. From exchange operator to private banking player, Li Lin has switched lanes. Bitfire launched its private banking services only in August last year and has since attracted around 300 clients. This year, it plans to expand into Ethereum and stablecoin trading strategies, with a goal of managing over $1 billion in assets within two years. Having exhausted retail investors’ capital, the focus now turns to institutions and high-net-worth individuals.
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