[Ethereum DAT Project Worth $1 Billion Shelved, Previously Led by Li Lin, Shen Bo, Xiao Feng, and Cai Wensheng] November 19 news, according to Wu Blockchain, the $1 billion Ethereum DAT project led by Li Lin, Shen Bo, Xiao Feng, and Cai Wensheng has been shelved, and the funds raised have been returned. This project was the largest DAT initiative led by Asian investors. Industry insiders speculate that the shelving was primarily due to the bear market following the 1011 incident, as well as the recent significant decline in the stock prices of many DAT companies. Regarding whether the project will be restarted, relevant parties stated that the interests of investors will be prioritized, and the decision will depend on market conditions and trends. According to an earlier Bloomberg report, Li Lin (founder of Huobi) was collaborating with Shen Bo (co-founder of Fenbushi Capital), Xiao Feng (CEO of HashKey), and Cai Wensheng (founder of Meitu), who are early Ethereum supporters in Asia, to establish a new digital asset trust fund. The plan initially aimed to purchase approximately $1 billion worth of ETH. The team was negotiating the acquisition of a Nasdaq-listed shell company for structural setup. The funding included $200 million from Li Lin's Avenir investment company and approximately $500 million from Asian institutions such as Sequoia China.