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Bloomberg: Li Lin transfers a 20-person trading team to Hong Kong-listed company Bitfire
ChainCatcher message: Li Lin is transferring his entire family office Avenir Group’s approximately 20-person trading team to Bitfire Group, a wealth management company listed in Hong Kong. It is understood that Li Lin holds 30% of Bitfire shares, to help the company attract more private banking clients.
Bitfire CEO Livio Weng said that Bitfire will acquire the team and its trading system from Avenir Group. Avenir confirmed the deal. With the new team joining, Bitfire has obtained an initial investment intent of about $500 million from family offices and publicly listed companies.