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Li Lin to Move 20-Person Trading Team From Avenir to Hong Kong-Listed Bitfire Group

Li Lin is transferring an approximately 20-member trading team from his family office, Avenir Group, to Bitfire Group, a Hong Kong-listed wealth management firm, according to Odaily Planet Daily. Li Lin owns a 30% stake in Bitfire and plans to support the company's push to win more private-banking clients. Bitfire CEO Livio Weng said the firm will acquire the team and its trading system from Avenir. Avenir has confirmed the deal. Following the planned addition, Bitfire has secured initial investment commitments of about $500 million from family offices and public companies, Bloomberg reported.
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