Chinese crypto mogul Li Lin’s private trading arm is set to move into a Hong Kong-listed wealth firm

What Happened

Chinese crypto billionaire Li Lin's private trading firm Avenir Group will transfer its trading system and investment team to Bitfire, a Hong Kong-listed wealth management company where Li is the largest shareholder. The $1.6 million deal positions Bitfire to attract institutional investors in digital assets. Hong Kong has recently become a regulated cryptocurrency hub, awarding stablecoin licenses to HSBC and Standard Chartered.

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