ChainCatcher news, according to Deep Tide TechFlow, Huobi founder Li Lin's family office Avenir Capital has established a crypto quantitative fund of funds, Avenir Crypto, with an initial fund size of 500 million USD.The fund will invest 200 million USDT, 3,000 bitcoins, and 50,000 ETH, with Binance as the trading venue, using API keys and SDKs for trading.There are three types of funding methods: 100% funding, co-funding by both parties at the same level, and manager's subordination.

ChainCatcher news, Hong Kong listed company New Fire Technology has released the latest announcement stating that it has signed an asset management service framework agreement with its actual controller Li Lin, to provide asset management services for its affiliated funds, including ABCDE Fund, New World Fund, New Era Fund, and MS Fund, with management fees ranging from 1% to 2%.The announcement disclosed that as of June 30 this year, the total assets under management of ABCDE amounted to 40 million USD, with Li Lin holding 31.25% of the equity. The total assets under management of New World Fund were 20 million USD, with Li Lin holding 50.00% of the equity. The total assets under management of MS Fund were 18.1 million USD, with Li Lin holding 96.13% of the equity.According to RootData, the ABCDE has a cumulative number of investment portfolios of 32, including 12 leading projects, such as Bitlayer, bitSmiley, Surf Protocol, UTXO Stack, etc.

ChainCatcher news, Hurun released the 2023 Hurun Rich List, in which Wu Jihan ranked 9th among Peking University alumni with a wealth of 10 billion yuan, Li Lin ranked 3rd among Tongji University alumni and 22nd among Tsinghua University alumni (master's) with a wealth of 7 billion yuan, and Xu Mingxing ranked 16th among Renmin University alumni with a wealth of 5 billion yuan.

According to ChainCatcher news, as reported by Wu Shuo Blockchain, the largest residential unit in Kowloon, Hong Kong, the Villa C on Dragon Horse Road in Mid-Levels, has been purchased by Huobi founder Li Lin.According to Ming Pao, the property is sold under a rent-to-buy scheme, allowing for a rental period of 90 months, or about 7 and a half years, starting from the 1st of this month. After completing the 7 and a half year rental period, there is a 3-month renewal option, after which the unit can be purchased at a subscription price of 1 billion HKD, calculated at a usable area of 11,692 square feet, which translates to an effective price of 85,529 HKD per square foot. If the final buyer exercises the 1 billion HKD subscription right, the transaction price may set a new record for Kowloon’s residential units. Earlier, Li Lin sold his stake in Huobi for over 1 billion USD to Sun Yuchen. Li Lin also enjoys purchasing properties in various locations such as Shenzhen and Beijing.

ChainCatcher news, according to DeThings, if New Fire Technology completes its new share placement, its major shareholder Li Lin's stake will be diluted to 26.12%, while another shareholder Shen Nanpeng's stake will be diluted from 11.94% to 7.92%. The stake of New Fire Technology's executive director and CEO Du Jun will increase to 16.86%. OnChain's stake will increase to 17.66%. According to New Fire Technology's announcement, the estimated net proceeds from this share placement are approximately HKD 325 million, of which HKD 235 million will be used to repay loans, and HKD 90 million will be used for the group's business development and operating funds. Previously, the company recognized a loss of USD 18.1 million on cryptocurrency asset deposits due to the collapse of FTX and loaned USD 13.2 million to major shareholder Li Lin.New Fire Technology was formerly known as Huobi Technology, and its major shareholder Li Lin was previously the founder of the cryptocurrency trading platform Huobi. Before the share placement of New Fire Technology, the well-known venture capital firm Sequoia China and its founder Shen Nanpeng held 11.94% of New Fire Technology's shares.Earlier, New Fire Technology announced that it had signed a share subscription agreement with Du Jun and ON CHAIN Technology LIMITED (controlled by Zhong Gengfa), with Du Jun's total subscription price being HKD 155 million, accounting for 24.18% of the issued shares, and On Chain's total subscription price being HKD 171 million, accounting for 26.64% of the issued shares, totaling HKD 326 million, which will be paid in cash upon meeting the conditions precedent. (source link)

ChainCatcher news, regarding Li Lin's formal lawsuit against Huobi for using the "Huobi" trademark in Hong Kong, Huobi officially responded to Odaily Planet Daily as follows:Huobi Global Limited has the trademark rights in many jurisdictions around the world, and therefore has the right to use it freely.Huobi Global Limited is not registered in Hong Kong. The trademark rights in Hong Kong depend on the laws and regulations of Hong Kong.Currently, we have not formally received any court acceptance notice and do not have detailed knowledge about the lawsuit. We will communicate actively.According to a previous exclusive report by Wu Shuo, X-Spot Limited, controlled by Li Lin, today filed a lawsuit against Huobi (Huobi Global Limited) for trademark infringement in the High Court of the Hong Kong Special Administrative Region.The lawsuit claims that X-Spot Limited has always retained exclusive rights to the "Huobi" trademark, and Huobi (Huobi Global Limited) has been using the trademark without authorization from X-Spot. (Source link)

ChainCatcher news, according to reports from Wu, X-Spot Limited, controlled by Li Lin, has filed a trademark infringement lawsuit against Huobi Global Limited today in the High Court of the Hong Kong Special Administrative Region. The lawsuit claims that X-Spot Limited has always retained exclusive rights to the "Huobi" trademark, and Huobi has been using the trademark without authorization from X-Spot.It is reported that when the original shareholders transferred their shares of Huobi Global to About Capital Management, they explicitly agreed to retain exclusive rights to the "Huobi" trademark and ensured that these rights would not be transferred to the buyer or Huobi. The equity transfer and asset delivery agreement between the parties clearly stipulates that the buyer is prohibited from using the "Huobi" trademark and brand. (source link)

ChainCatcher news, Huobi founder Li Lin posted on social media regarding whether Huobi HK is related to him personally, and the reuse of the "Huobi" name by the Huobi App:After October 8, 2022, he is no longer a shareholder of Huobi (火必), and any business activities of Huobi (火必) thereafter are unrelated to Li Lin personally.According to the trading agreement, Huobi (火必) company is prohibited from using the "Huobi" and "火幣" brands in simplified and traditional Chinese (the Chinese name of Huobi has been changed to "火必").Huobi (火必) company is requested to immediately cease the infringement of using the Chinese "火币" and "火幣".Li Lin's legal personnel will send a lawyer's letter to Huobi company, urging it to stop the infringement, and will decide whether to take further legal action based on the situation to protect Li Lin's legal rights.

ChainCatcher message, regarding Sun Yuchen's claim that Li Lin's brother Li Wei has repeatedly obtained a large amount of zero-cost HT through irregular means and sold it, Li Lin responded: "It is regrettable to discuss Huobi in this way again regarding the so-called acquisition of HT by my brother Li Wei through irregular means (including historically). I hope Huobi will provide evidence. If it is confirmed that zero-cost HT was obtained through illegal means, I will personally compensate Huobi with 10 times the amount of HT. If it is not true, I hope Huobi will return the users' legitimate assets :) I believe this should be a misunderstanding, and I hope Huobi continues to improve in the future."

ChainCatcher news, Sun Yuchen tweeted, "Li Lin's brother Li Wei has repeatedly obtained a large amount of zero-cost HT through improper means, and has historically sold off on the Huobi platform, making huge withdrawals. This has not only tarnished Li Lin's reputation accumulated over many years in the country but also harmed the interests of every member of the HT community. According to the resolution of the Huobi Global Advisory Committee and the HT DAO community, we will recover and destroy the HT obtained by Li Wei at zero cost, and the HT destruction will be announced in the HT community. Such behavior will never be tolerated." (source link)

ChainCatcher news, according to South Korean media News1, Huobi Korea will sever ties with Huobi Global and operate independently. The report states that Huobi Korea will negotiate on equity issues, and currently, more than half of Huobi Korea's shares are owned by Huobi Global founder Li Lin. Huobi Korea Chairman Jo Guk-Bong will acquire a majority stake from Li Lin. (News1)

ChainCatcher news reports that "Li Lin has founded a new cryptocurrency trading platform, New Fire Hong Kong." After reviewing relevant public information, it was found that "New Fire Hong Kong" is the predecessor of Huobi Hong Kong and is an indirect wholly-owned subsidiary of New Fire Technology Holdings Limited. Li Lin is the chairman and controlling shareholder of New Fire Technology Holdings Limited. According to the official website of New Fire Technology, Du Jun and Zhang Li serve as the CEO and CFO of the company, respectively. In response, Du Jun stated in the community that New Fire Technology will have several reliable external products this year, but this trading platform will definitely not be included.According to previous reports, on October 8, the controlling shareholder company of Huobi transferred all of its shares in Huobi Global to a fund under About Capital, with New Fire Technology being an independent entity. (source link)

Chain Catcher news, after completing the equity and business sale of Huobi Global to a fund under Hong Kong Baidu Capital, Huobi founder Li Lin posted on social media, stating that he is no longer the actual controller and shareholder of Huobi Global, nor does he hold any authority.The full text is as follows: "Saying goodbye. Just now, the equity transfer and asset delivery of Huobi Global have been completed, marking that the fund under Baidu Capital has become the largest shareholder and actual controller of Huobi Global. I am no longer a shareholder of Huobi Global, nor do I directly or indirectly hold any authority over Huobi Global. Huobi has been a memorable journey since I founded it nine years ago. I thank our customers and partners who supported us during these nine years, as well as my companions and friends who accompanied me. The path leads to the end of the white clouds, and spring flows with the green stream. I believe that Baidu Capital, with its international resources and global vision, can bring new momentum to the globalization process of Huobi Global and lead Huobi Global to embark on the next journey!"Earlier news reported that the cryptocurrency trading platform Huobi Global announced that its controlling shareholder company has transferred all of its shares in Huobi Global to a fund under Baidu Capital, making the Baidu Capital merger fund the largest shareholder and actual controller of Huobi Global. The transaction has been approved by the Huobi board and has been officially completed, with the equity and business formal delivery now finalized. The official statement indicated that this transaction only involves a change in the controlling shareholder and will not affect the existing core management and operational team. (source link)

Chain Catcher News, the cryptocurrency trading platform Huobi Global announced that the controlling shareholder of Huobi Global has transferred all of its shares in Huobi Global to a fund under About Capital Management, making About Capital's merger fund the largest shareholder and actual controller of Huobi Global.The transaction has been approved by the Huobi board and has been officially completed, with the formal transfer of equity and business now finalized. The official statement indicates that this transaction only involves a change in the controlling shareholder and will not affect the existing core management and operational team.The official website shows that Hong Kong About Capital Management is an asset management company founded by Chen Yihua in 2013. He is also a partner at Jinglin Asset and holds an MBA from the Australian Graduate School of Management. It is reported that the company has a fund called "Asian Special Opportunities Fund," which manages assets of $200 million. (source link)