The $1 billion Ethereum DAT project led by Li Lin, Shen Bo, Xiao Feng, and Cai Wensheng has been shelved.

According to Odaily Planet Daily, the $1 billion Ethereum DAT project led by Li Lin, Shen Bo, Xiao Feng, and Cai Wensheng has been confirmed to be shelved, with the previously raised $200 million returned to investors. Industry insiders say the market downturn following the 10/11 attacks, coupled with the recent sharp decline in the stock prices of several DAT companies, are the main reasons for the project's suspension. Regarding whether it will be restarted in the future, relevant personnel stated that the interests of investors will be prioritized, and the project will be restructured based on market conditions.

According to a previous Bloomberg report, the DAT project was initiated by several early Ethereum supporters in Asia, aiming to initially purchase approximately $1 billion worth of ETH and planning to acquire a Nasdaq-listed shell company for its structure. Funding sources include $200 million from Li Lin's Avenir and approximately $500 million from institutions such as Sequoia China. (Wu Shuo)