I'll tell you about Lee Lin's home: How to throw the second half of $1 billion
Author:Let's do something new
In April 2026, a Hong Kong equity announcement by the New Fire Group announced that Li Lin, the founder of the fire coin, would return to market view。
The New Fire Group proposes to acquire AvenirX-level institutional investment trading systems from Avenir Investment Management Limited for approximately US$ 15,775. According to the bulletin, since the seller was ultimately under Li Lin ' s control and Li Lin was also Chairman and non-Executive Director of the New Fire Group, the transaction constituted a related transaction。
This is not an ordinary software asset acquisition. Li Lin is importing the deep-seated investment trading capacity of Avenir into a public company platform in Hong Kong, China。
From burning coins to Avenir, to New Firegroup, Li Lin ' s post-fire coin era was not a simple exit, but a reorganisation of capital organization。
From the founder of the exchange toAvenir Group
Lee Lin's wealth begins with a coin of fire。As an entrepreneur in China’s first generation of encryption exchanges, the burning currency was one of the most important encryption money trading platforms in the world at peaks. Then, as industry environment and regulatory policy were adjusted, Li Lin wasThe sale of stakes in the burning currency around 2022 amounted to approximately $1 billion。
It is in this context that Avenir Group emerged。
The Network describes it as an investment group “from the Leelin family office”, located in the strategic integration of traditional financial and digital assets, with investments covering digital assets, trading and financial services platforms, PayFi infrastructure and RRWA。
More preciselyAvenir is not a traditional home for wealth conservation and asset decentralization, but rather an institutional investment management platform that has evolved from family capital: it has both the financial base of the home and the trading capacity of the firm and the expansionary ambitions of the financial science and technology platform。
Avenir's base:BITCOINETF
UnderstandAvenir, look at its clearest configuration - Bitcoin ETF。Avenir did not express a digital asset through a chain of wallets or exchange accounts, but rather held a large number of United States-listed Bitcoin ETFs, in particular the iShares Bitcoin Trust under the Beled flagIBITI don't know。
Blackrock iShares Bitcoin Trust ETF (IBIT) logo at NASDAQ Market Center, New York
Based onSubmitted by Avenir Tech Ltd. to SEC of the United States13F FILEAt the end of 2024, approximately 1,129 million IBITs were held, with a declared market value of approximately $599 million; at the end of the third quarter of 2025, they had increased to approximately 18.3 million shares, with a market value of approximately $1,189 million; and at the end of 2025, some 1,829 million shares, with the market value falling to about $908 million (mainly affected by price fluctuations rather than by a significant reduction). Avenir officially claimed to have maintained its position as the largest Bitcoin ETF holder in Asia since the second quarter of 2024。
Direct possession of bitcoin is not difficult for the founders of exchanges like Li Lin。But..Avenir ' s choice of a large-scale configuration of the ETF suggests that it values not just rising currency prices, but the long-term trend of digital assets entering the traditional financial system。BITCOINETF CONVERTS THE CHAIN ASSETS INTO A TRUSTABLE, AUDITABLE, DISCLOSUREABLE SECURITIZED PRODUCT, MAKING IT EASIER FOR BITCOIN TO ENTER VOUCHER ACCOUNTS, FUND STATEMENTS AND HOME ASSET ALLOCATION FORMS。
What needs to be noted is that13F can only reflect United States listed securities held by the declared subject within the Avenir system, which is not equal to the full size of Avenir ' s assets. The IBIT holdout is an important window for observing the direction of Avenir ' s investments, but cannot simply be equated with all AUM。
From buying money to building trading capacity
IfAvenir is just a repository IBIT, which is at most just a bet bitcoin ETF family capital platform. Avenir, however, is more critical in building capacity around the base of digital assets for trading, quantification and revenue enhancement。
In 2024, Avenir Crypto launched a $500 million cooperation programme to provide financial support to global quality quantitative trading teams. This suggests that Avenir is not satisfied with the mere acquisition of Bitcoin Beta, but rather with the desire to generate additional gains through quantitative strategies and derivatives trading。
According to the New Fire Group announcementAvenirX is an enterprise-level investment transaction operating system consisting of approximately 42 functional modules covering investment, strategy portfolio management, order management, transaction execution, risk control and performance analysis。
Its executive layers support algorithms such as TWAP, VWAP, Iceberg, which cover pre-trading approval, 7x24 hours of real-time monitoring and post-trading, cutting across four levels of strategy, account, portfolio and system。
The value of the system is not that it's just a software tool, but that it's puttingTransactions within Avenir, rules of the wind and research processes are translated into system assets that can be deployed, audited and reset。
The bulletin stated that AvenirX had undergone market cycle tests from 2024 to 2026 in the physical fund environment, during which no significant risk events had occurred。
From investment path to management platform
According to public sourcesAvenir's investment profile is not no differentYesThe network is spread around the institutionalization of digital assets。
FIRST FLOOR, BITCOIN ETF。Through tools such as IBIT, Avenir has established a core base for compliance, transparency and auditable digital asset exposure。
The second tier is trading and quantifying capabilities。Avenir Crypto has launched a $500 million quantitative cooperation programme to support external quantitative teams. The AvenirX system, in turn, further enhances internal trading, wind control and revenue enhancement. This suggests that Avenir hopes to gain from quantitative strategies, derivative trading and wind control systems above the base。
Third tier: trading infrastructure and financial services platformI don't know。
Avenir announced strategic investment and cooperation with CoinRoutes in 2026. CoinRoutes, an algorithm execution and smart order router provider for agency digital asset transactions, has a platform that covers more than 60 mainstream exchanges and liquidity providers and supports over 3,600 spot and derivative trading matches。
Avenir also received $20 million in seed wheels from Inference Research. The latter is located on the Al-native Quantification Trading Platform, the core of which is not a simple “IAI input”, but a quantitative transaction, asset pricing and liquidity supply embedded in digital assets and traditional financial convergences。
In addition, Avenir was involved in NASDAQ listingsMetalphaStrategic investments. Metalpha mainly provides block chains and technical solutions for transactions, encryption derivative design and enterprise asset management services. In October 2025, Metalpha announced strategic investments of approximately $12 million in Gortune and Avenir to expand block-chain trading services and digital asset technology layouts。
New Fire Group (Hong Kong Unit)1611) is a key vehicle for the release of these capabilities to the external market。Li Lin chairs the board of directors and non-executive directors. The transfer of the AvenirX system to the New Fire Group meant that Li Lin was importing into a publicly listed company platform its internal investment, trading and wind control capabilities。
New Fire Group plans to launch itThe Alpha BTC strategy is the productization of this path — using bitcoin or IBIT ETF as a bottom asset to generate gains through derivatives, such as options, with targeted clients including encrypted home-grown investors, local enterprises and institutional funds in Hong Kong, China, with the goal of attracting more than 10,000 bitcoin equivalents in one year. However, this is part of the management ' s business plan for external releases, which still needs to be followed by formal landing。
In terms of organizational division of labour, this path is not done by Li Lin alone。
Li Lin is more like a capital source and strategic judgement centerAvenir is responsible for sedimentation of Bitcoin ETF configuration, quantitative trading, wind control systems and trading infrastructure capabilities, and Jason Lan, Jacob Zhong and other specialist teams undertake specific implementation of digital asset strategies, quantitative cooperation and ecological investment, respectively, and New Fire Group CEOOn-on-PixieThey are responsible for the productization and commercialization of listed company platforms。
In other words, where Avenir is really special, it is not just Li Lin's investment, but it is connecting individual industry judgement, internal trading capacity and external management products。
Zhao Chang PengVS LEE LIN: ENCRYPT TWO PATHS TO NEW WEALTH
Zhao Chang Peng and Li Lin are representatives of the first generation of entrepreneurial wealth in the encryption industry。Both began to reorganize their own capital when the exchange ran out of line, but the path was completely different。
First of allZhao Chang Peng's post-monetary era is like an extension of industrial capital。PassYZi Labs, who continues to be embedded in the entrepreneurial ecology, from the encryption industry to AI, robotics and biotechnologies. The core competencies of YZi Labs are not just finance, but industry prestige, network of founders and global influence. It is more like a VC and hatching platform with a family colour, with a focus on where the next technology platform is。
And Lee Lin's post-fire currency was more like an asset management transition。Instead of expanding along the path of multi-track investment in technology, Avenir built a digital asset management infrastructure around bitcoin ETF, quantitative trading, trading systems and listed companies. Avenir chose ETF in essence to put digital assets in the traditional financial system。
SecondIn organizational formYZi Labs places greater emphasis on “people” and “projects”, relying on the founders' network, money and ecological resources and long-term capital to approach the next generation of entrepreneursI don't know。YesYZi Labs, Ella Zhang, more like a typical VC player, is responsible for upgrading the Binance Labs investment system to a cross-cutting capital platformI don't know。
And..Avenir placed greater emphasis on “systems” and “products”。The core is not a star investor, but a combination of “system-strategy-product-market platforms”。
Anyway, it's a new idea at homeThe key word for Jo is..“Industry bet”, Li Lin's key word is “financialization”。The former extend its influence to networks of entrepreneurs, while the latter sink their capacity into trading systems and product structures。
The revelation of home-based industries
It's a new ideaAvenirThe reasonIt deserves the attention of the home industry not because it has proved to be successful, but because it provides a different sample from that of traditional homes。
Traditional home offices often revolve around asset preservation and inheritance, but the case of the encryption founders shows that new wealth from highly volatile industries does not necessarily automatically move towards conservative configuration。
A home may not be just a risk-reducing tool, but a capital platform where the founders continue to participate in the industry cycleI don't know。Domestic core assets may not be just money, but industry perceptions, trading systems and team competenciesI don't know。Household patterns will also become more fragmented, with traditional families becoming more governed and inherited, while the founders of technology and encryption may have more systems, products and platform capabilities。
But..Avenir's path cannot be simply translated into a successful transition。
AvenirX's transfer to a listed company will actually bring about a steady growth of AUM, depending on the distribution of products, client acceptance and physical performance. Bitcoin-based management strategies, such as Alpha BTC, remain inherently exposed to the risk of highly volatile asset and derivative transactions. More importantly, the move of Avenir from a family capital platform to an external management platform means that it will face higher compliance, disclosure and reputational management requirements。
From the coin of fireAvenir, to New Fire, the real question is:I don't knowWhen a generation of entrepreneurial wealth comes from highly volatile industries, should households return to defense, or should they transform old industrial capacities into capital systems in the next phase
Lee Lin gave the answer, the latter。
(The New Mind at Home reminds that content and perspectives are for information only and do not constitute any investment proposal
