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The $1 billion Ethereum DAT plan led by Li Lin, Xiao Feng, and others has been shelved, and approximately $200 million in funds have been returned.
PANews, November 19 - According to reports from Wu Shuo, the Ethereum DAT project led by Li Lin, Shen Bo, Xiao Feng, and Cai Wensheng has been suspended, and approximately $200 million in funds that had been raised have been returned. The plan was originally intended to use a Nasdaq shell company structure to initially purchase about $1 billion in ETH, with funding including approximately $200 million from Avenir and about $500 million from Asian institutions. Industry insiders say the suspension may be related to the bear market following the "1011 incident" and the decline in stock prices of several DAT companies. Whether to restart is still uncertain, and related parties have stated that they will prioritize investor interests and continue to observe the market to act accordingly.
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