"Huobi founder-led US$1 billion Ethereum DAT plan put on hold…all invested funds returned"

It has been reported that plans to establish a US$1 billion Ethereum (ETH) Digital Asset Treasury (Digital Asset Treasury·DAT) proposed by major Asian crypto asset investors have been put on hold. DAT refers to a type of digital asset reserve company that holds coins long-term and accumulates them strategically.

On the 19th, crypto asset-focused media WuBlockchain, citing multiple sources, reported that "the plan to establish an Ethereum DAT targeting a total of US$1 billion has been put on hold, and the funds already committed have been fully returned to investors." The specific reasons for the suspension and the internal discussion process have not been confirmed.

This marks a stark contrast to the momentum reported just a day earlier. On the 18th (local time), Bloomberg reported that early Asian Ethereum supporters — Li Lin, Huobi co-founder; Bo Shen, co-founder of Fenbushi Capital; Xiaopeng He, CEO of HashKey Group; and Cai Wensheng, founder of Meitu — were discussing the formation of an approximately US$1 billion Ethereum DAT.