Li Lin merged his Avenir Group trading team into Bitfire, a Hong Kong-listed wealth management company.

CoinFeed reported on April 22 that, according to Bloomberg, Livio Weng, CEO of Hong Kong-listed wealth management firm Avenir Group, stated in an interview that Bitfire is acquiring its trading team and trading system from Avenir Group, the family office of Li Lin. Li Lin holds a 30% stake in the wealth management firm, and this move aims to help the company expand its private banking client base. With the addition of the new team, Bitfire has received initial investment intentions of approximately $500 million. Bitfire launched its private banking business last August and has since added approximately 300 clients, primarily family offices, listed companies, and high-net-worth individuals. The company plans to expand its Ethereum and stablecoin trading strategies later this year.