PANews reported on November 19 that the Ethereum DAT plan led by Li Lin, Shen Bo, Xiao Feng, and Cai Wensheng has been shelved, and the approximately $200 million in funds raised has been returned. The plan was originally intended to purchase about $1 billion worth of ETH through a Nasdaq shell company structure, with funding including approximately $200 million from Avenir and around $500 million from Asian institutions. Industry insiders say the shelving 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 undecided, and relevant parties stated that they will prioritize investor interests and continue to observe the market to act accordingly.
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