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

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Chinese crypto mogul Li Lin’s private trading arm is set to move into a Hong Kong-listed wealth firm The transfer effectively moves part of Li’s private trading operation into a public company where he is the largest shareholder. By Omkar Godbole , AI Boost | Edited by Sam Reynolds Apr 22, 2026, 5:13 a.m. Make preferred on China flag (Unsplash) What to know : A Hong Kong-listed wealth manager, Bitfire Group, is acquiring crypto trading systems and staff from Avenir Group, the private investment arm of crypto billionaire Li Lin. The transfer effectively moves part of Li’s private trading operation into a public company where he is the largest shareholder. Bitfire plans a strategy targeting more than $700 million in bitcoin-linked assets using derivatives tied to products like the IBIT. Chinese crypto billionaire Li Lin's private trading empire will soon move into a Hong Kong-listed company he controls, in a move designed to cater to growing investor demand for digital assets. That Hong Kong-listed firm is Bitfire, a wealth management company, where Li is the largest shareholder. Bitfire said Wednesday that it will pay $1.6 million to acquire a trading system and investment team from Li's own family office Avenir Group, according to Reuters . While structured as a purchase, the deal effectively transfers part of Li’s in-house crypto operation into a publicly listed vehicle, giving it a clearer path to attract institutional investors. The timing reflects a broader shift in the region. Mainland China has banned crypto trading since 2021, but Hong Kong is positioning itself as a regulated hub for digital assets, drawing interest from firms looking for a compliant base. Hong Kong recently awarded stablecoin licenses to to HSBC and Standard Chartered. By acquiring Avenir's capabilities, Bitfire plans to roll out a bitcoin-focused strategy, “Alpha BTC,” targeting more than 10,000 bitcoins, worth about $760 million, in assets within a year. The strategy will seek returns through derivatives trading, including options tied to bitcoin and products like the IBIT. Avenir has built a significant position in bitcoin ETFs, holding 18.3 million shares of IBIT, issued by BlackRock, valued at about $908 million as of the end of 2025, as per the company's regulatory filing. Li founded Huobi, now known as HTX, and built it into one of the world’s largest crypto exchanges before selling a controlling stake to Justin Sun for about $1 billion in 2022. He has since focused on managing investments through Avenir. Cryptocurrency AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy . More For You Prediction markets are the new secret weapon for Coinbase and Robinhood growth By Helene Braun | Edited by Nikhilesh De 9 hours ago Cantor Fitzgerald analysts said the market is treating recent trading slumps as old news, shifting focus instead toward prediction markets and new product launches to drive the next leg of growth for Coinbase and Robinhood. What to know : Investors are looking past expected weak first-quarter 2026 crypto trading results at Coinbase and Robinhood and focusing instead on new products such as prediction markets. Cantor Fitzgerald's Ramsey El-Assal kept "overweight" ratings on both stocks and raised price targets, citing improving sentiment and longer-term growth drivers despite softer near-term volumes... Read full story Latest Crypto News Crypto's great hope in Senate's Clarity Act still has a path to survive tight calendar 6 hours ago Inside the hunt for Satoshi: Filmmakers chase crypto’s biggest mystery 7 hours ago New York sues Coinbase, Gemini over prediction market offerings 8 hours ago Prediction markets are the new secret weapon for Coinbase and Robinhood growth 9 hours ago Core Scientific seeks $3.3 billion bond sale to further AI data center pivot 9 hours ago Mob boss John Gotti’s grandson is headed to prison for a $1.1 million Covid fraud and crypto scheme 10 hours ago Top Stories Bitcoin slides toward $75,000 amid Warsh hearing, stalling U.S.-Iran talks 11 hours ago Strategy overtakes BlackRock IBIT in bitcoin holdings after bear market buying 19 hours ago Crypto's massive exploit may force big banks to rethink their blockchain plans, Jefferies warns 10 hours ago Kalshi takes on Coinbase, Robinhood with new plan to offer crypto perpetual futures: The Information 11 hours ago North Korea’s crypto heist playbook is expanding and DeFi keeps getting hit Apr 20, 2026 Aave’s core markets hit 100% utilization at once, and that's not a good thing 13 hours ago