Group 1 - The core viewpoint of the article is that Li Lin, the founder of Huobi, clarified that he is not an investor in LD or Garrett Gin, and he has not reduced his holdings in BTC or ETH during the recent market downturn [1] - There are rumors circulating on social media suggesting that the recent sell-off was not entirely driven by macroeconomic factors but rather due to a large fund facing liquidation of its Bitcoin positions, with speculation pointing towards a Hong Kong hedge fund involved in Bitcoin options trading [1] - According to the latest SEC 13F report, as of the end of Q3 2025, Avenir Group, founded by Li Lin, holds 18,297,107 shares of IBIT, with a market value of $1.189 billion, representing an approximately 18% increase from the previous quarter, and it has been the largest institutional holder of Bitcoin ETFs in Asia for five consecutive quarters [1]