Li Lin, the former founder of Huobi, is launching a new $10 billion Ethereum digital asset token (DAT) company. The firm plans to raise the capital through a private placement (PIPE), offering pricing at approximately 0.88 times net asset value (mNAV) and including 1:1 attached warrants exercisable at a 50% premium to the issue price. Li Lin is partnering with prominent early Ethereum supporters in Asia, such as Shen Bo, co-founder of Distributed Capital, Xiao Feng, chairman and CEO of HashKey Group, and Cai Wensheng, founder of Meitu.