Li Lin, the visionary founder of Huobi — one of the earliest and most influential cryptocurrency exchanges — has continued to shape the digital asset landscape long after stepping away from day-to-day operations. Once at the helm of a global exchange, Li Lin has transitioned into a strategic investor and family office leader, positioning himself at the forefront of institutional crypto adoption. Through a series of calculated investments, legal maneuvers, and fund launches, he has built a sophisticated financial ecosystem centered on blockchain innovation and long-term value creation.
This article explores Li Lin’s evolving role in the crypto economy, highlighting key developments in 2023–2025 that underscore his influence beyond exchange leadership.
Acquisition of Tiger Securities Stake via Avenir Tech
In June 2025, regulatory filings with the U.S. Securities and Exchange Commission (SEC) revealed that Li Lin, through his wholly-owned investment chain, acquired a significant stake in UP Fintech Holding Limited — better known as Tiger Securities. His company, Avenir Tech Limited, now holds 5.9% of the publicly traded fintech firm, equivalent to 10,667,580 American Depositary Shares (ADS).
The ownership structure traces back to Avenir Investment, where Li Lin is the sole shareholder. This layered corporate framework reflects a deliberate approach to asset management and governance, typical of high-net-worth family offices operating across jurisdictions. By investing in a regulated financial platform like Tiger Securities — which bridges traditional capital markets with digital-native investors — Li Lin is signaling confidence in the convergence of Web3 and mainstream finance.
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Avenir Group’s Massive Bitcoin ETF Holdings
One of the most notable institutional moves in recent crypto history came from Avenir Group, Li Lin’s Hong Kong-based family office. According to updated 13F filings as of March 31, 2025, Avenir Group holds 14.7 million shares of BlackRock's iShares Bitcoin Trust (IBIT), valued at approximately $691 million.
This represents a substantial increase from its previous holding of 11.3 million shares at the end of 2024. With total portfolio assets reaching $795 million, IBIT now constitutes the vast majority of Avenir Group’s public market exposure.
Further reports from Bitcoin Magazine confirm that Avenir Group’s total holdings in spot Bitcoin ETFs exceed $857 million, reinforcing its status as Asia’s largest holder of Bitcoin ETFs — a title the firm officially claimed in early 2025 through public statements.
This aggressive accumulation underscores a clear conviction in Bitcoin as a long-term store of value and highlights the growing role of Asian institutional investors in U.S.-listed digital asset products.
Launch of Avenir Crypto: A $500 Million Quantitative Master Fund
In September 2024, Li Lin expanded his investment infrastructure by launching Avenir Crypto, a crypto-focused quantitative master fund under his family office umbrella. The initial fund size was set at $500 million, aimed at deploying algorithmic trading strategies across major exchanges and decentralized protocols.
Unlike speculative ventures, Avenir Crypto emphasizes risk-managed, data-driven approaches — leveraging machine learning models and on-chain analytics to capture alpha in volatile markets. The fund targets both spot and derivatives markets, with allocations diversified across Bitcoin, Ethereum, and select blue-chip altcoins.
This move aligns with broader trends of maturing crypto finance (CryptoFi), where institutional-grade tools and strategies are replacing early retail-driven speculation.
Strategic Fund Interests Through NewFire Technology
Public disclosures from NewFire Technology, a Hong Kong-listed company, revealed in August 2024 that Li Lin maintains substantial equity stakes in multiple private funds under its management:
- ABCDE Fund: $400 million AUM — Li Lin holds 31.25%
- New World Fund: $200 million AUM — Li Lin holds 50.00%
- MS Fund: $18.1 million AUM — Li Lin holds 96.13%
These funds appear to serve different strategic purposes — from macro hedge strategies to early-stage blockchain venture investments. The disproportionate ownership in MS Fund suggests it may function as a personal or special-purpose vehicle, while larger funds like ABCDE allow for diversified institutional participation.
Such transparency in fund structures is rare among private crypto investors, making Li Lin’s disclosures particularly noteworthy for market observers tracking capital flows in the digital asset space.
Legal Victory in Huobi Trademark Dispute
In December 2023, the Hong Kong High Court ruled in favor of X-SPOT GLOBAL LIMITED, a company controlled by Li Lin, granting a temporary injunction against Huobi Global Limited. The court barred Huobi Global from using the “火币” (Huobi) trademark or any confusingly similar branding during ongoing litigation.
The dispute centers on intellectual property rights retained by Li Lin after selling Huobi Global’s equity to About Capital Management in 2022. According to the original share transfer agreement, the buyer was explicitly prohibited from using the “Huobi” name or brand assets — rights that remained with Li Lin’s entities.
This legal win not only protects Li Lin’s brand equity but also sets a precedent for trademark enforcement in cross-border crypto transactions, where brand identity often outlives operational control.
High-Profile Real Estate Commitment in Hong Kong
In August 2023, Li Lin entered into a landmark real estate agreement for a luxury villa on Longju Road in Kowloon Tong, one of Hong Kong’s most exclusive residential areas. The deal follows a rent-to-own model, allowing him to lease the property for 90 months (7.5 years) starting from August 2023, with an option to purchase afterward at a reported price of HK$1 billion (~$128 million USD).
This long-term commitment signals strong faith in Hong Kong’s status as a global financial hub and its emerging role as a regulated gateway for crypto businesses in Asia.
Wealth Recognition and Industry Influence
According to the Hurun Rich List 2023, Li Lin was ranked among China’s wealthiest individuals with a net worth of RMB 7 billion (~$1 billion USD at the time). He placed third among Tongji University alumni and 22nd among Tsinghua University graduates (where he earned his master’s degree), reflecting both personal achievement and academic pedigree.
While not the richest in the crypto space — Bitmain co-founder Wu Jihan led with RMB 10 billion — Li Lin’s influence extends beyond personal wealth into institutional development and ecosystem building.
Ongoing Dispute with Justin Sun
In February 2025, public tensions emerged between Li Lin and Tron founder Justin Sun, who alleged a $30 million payment dispute related to the HTX exchange handover. Sun claimed communication breakdowns and lack of accountability on Li Lin’s part.
Li Lin responded formally, stating that the so-called “funding gap” stemmed from margin trading liquidations during extreme market volatility, not mismanagement or withheld funds. He emphasized that all financial obligations were settled per contract terms and reaffirmed his willingness to resolve any disputes through Hong Kong courts or third-party arbitration — not social media.
The incident highlights the complexities involved in transferring large-scale crypto exchange operations amid turbulent market conditions.
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Frequently Asked Questions (FAQ)
Q: Who is Li Lin?
A: Li Lin is the founder of Huobi Global, one of the world’s earliest major cryptocurrency exchanges. He remains active as an investor through his family office, Avenir Group.
Q: What is Avenir Group?
A: Avenir Group is Li Lin’s Hong Kong-based family office managing over $800 million in assets, with major positions in Bitcoin ETFs and crypto funds.
Q: Did Li Lin sell Huobi completely?
A: Yes, he sold his equity stake in Huobi Global to About Capital Management in 2022 but retained intellectual property rights to the “Huobi” brand.
Q: How much Bitcoin does Avenir Group hold?
A: While exact BTC holdings aren’t disclosed, Avenir holds over $857 million in spot Bitcoin ETFs, including 14.7 million shares of BlackRock’s IBIT.
Q: Why did Li Lin sue Huobi Global?
A: To enforce trademark rights. Court documents show he retained ownership of the “Huobi” name and sought to stop unauthorized use after the sale.
Q: Is Li Lin still involved in crypto?
A: Absolutely. Through fund launches, ETF investments, and strategic stakes in fintech firms like Tiger Securities, he remains deeply engaged in the industry.
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