Huobi Founder Leon Li Leads Ethereum Treasury Company Fundraising, Aiming to Raise $1 Billion

BlockBeats News, October 30th, according to the CoinList page, Li Lin, the original founder of Huobi, will establish the Ethereum Treasury Company (DAT) with a value of $1 billion. The ETH Treasury Company will initiate fundraising, aiming to raise $1 billion through a Private Investment in Public Equity (PIPE) offering. It will also issue 1:1 Warrants with a 50% premium to the exercise price over the issuance price. The PIPE is expected to be priced at approximately 0.88x modified Net Asset Value (mNAV). The plan is to complete the subscription by Friday, October 31, 2025, accepting payments in USD and USDC (ETH payments will be accepted if needed).

Previously, sources familiar with the matter revealed that Li Lin will team up with Asia's earliest Ethereum supporters to establish the cryptocurrency Treasury Company (DAT), including blockchain veteran investor Shen Bo, Distributed Capital co-founder He Bo, HashKey Group Chairman and CEO Xiao Feng, and Meitu Inc. founder Cai Wensheng.