Li Lin moves 20-person trading team to Hong Kong-listed Bitfire Group
ChainCatcher reports that Li Lin is relocating the 20-member trading team from his family office, Avenir Group, to Bitfire Group, a Hong Kong-listed wealth management firm. Li Lin is said to own a 30% stake in Bitfire, aimed at helping the company bring in more private banking clients. Bitfire CEO Livio Weng said the firm will acquire the team along with its trading system from Avenir. Avenir has confirmed the deal. Following the addition of the new team, Bitfire has secured preliminary investment commitments of about $500 million from family offices and listed companies.