Bloomberg: Li Lin transfers 20-person trading team to Hong Kong-listed company Bitfire

Li Lin is transferring his family office Avenir Group's trading team of about 20 people to the publicly listed wealth management company Bitfire Group. It is reported that Li Lin holds a 30% stake in Bitfire to help the company attract more private banking clients.

Bitfire's CEO Livio Weng stated that Bitfire will acquire the team and its trading system from Avenir Group. Avenir confirmed the transaction. With the addition of the new team, Bitfire has received approximately $500 million in initial investment intentions from family offices and publicly listed companies.