Trump Blames China for Trade Impasse While MrBeast Files Trademark for Crypto App

Huobi Founder Li Lin Launches $1 Billion Ether Trust Backed by Top Early ETH Investors

Huobi founder Li Lin is launching a $1 billion Ether-focused trust through his firm Avenir Capital, aiming to position it as a major institutional vehicle similar to Bitcoin ETF products. The initiative is backed by early Ethereum investors including Shen Bo of Fenbushi Capital, Xiao Feng of HashKey Group, and Meitu founder Cai Wensheng. The group is exploring acquiring a Nasdaq-listed company to provide regulatory structure and credibility ahead of the official launch in the coming weeks.

Around $1 billion in commitments has already been secured: Avenir Capital has committed $200 million, while HongShan Capital Group pledged $500 million. The fund targets growing institutional demand for Ether exposure, supported by data showing over 4.4 million ETH held by public companies. The timing follows the success of Bitcoin ETFs and increased institutional participation in Ethereum.

Li Lin’s leadership, Avenir’s track record in Bitcoin ETFs, and the involvement of major crypto investors position the trust to become a key institutional vehicle for Ether accumulation and investment.

Trump Admits 100% China Tariff Isn’t Sustainable but Blames Beijing as Talks Resume

Donald Trump defended his newly announced 100% tariff on Chinese goods, acknowledging it isn’t economically sustainable but blaming Beijing for forcing his hand after China tightened rare earth export controls. The tariffs, alongside fresh U.S. export restrictions on critical software starting Nov. 1, mark a sharp escalation in trade tensions.

Despite the hardline move, Trump has softened his tone, confirming he will meet Chinese President Xi Jinping in South Korea in two weeks and saying China “wants to talk.” The shift helped stabilize U.S. markets after recent selloffs triggered by the tariff announcement and banking sector worries.

Treasury Secretary Scott Bessent said talks with Chinese Vice Premier He Lifeng would continue and claimed tensions were cooling. However, China’s Commerce Ministry accused Washington of undermining the global trading system and vowed to increase WTO dispute actions.

WTO Director-General Ngozi Okonjo-Iweala urged both sides to de-escalate, warning that a U.S.-China economic decoupling could cut global output by 7%. U.S. officials also criticized China’s state-led industrial practices and excess manufacturing capacity.

Arthur Hayes Seeks $250 Million to Acquire Crypto Infrastructure Firms Through New Maelstrom Equity Fund

Arthur Hayes, BitMEX co-founder and creator of the perpetual swap, is staging a major return to crypto through his family office Maelstrom. The firm is raising at least $250 million for its first private equity vehicle, Maelstrom Equity Fund I, aimed at acquiring four to six mid-sized crypto companies. Each deal is expected to be $40–75 million, targeting profitable firms in trading infrastructure, data analytics, and crypto tech services.

Unlike Maelstrom’s previous token-based strategy, the fund will invest strictly in equity, focusing on off-chain, cash-generating businesses with clearer valuations. Acquisitions will be structured through SPVs, with plans to optimize operations and exit to larger investors within four to five years. The fund is being registered in the U.S. and will court crypto investors, family offices, pensions, and institutions.

Hayes’ comeback comes amid a private equity slowdown since the FTX collapse, though recent large acquisitions by Coinbase and Ripple signal renewed confidence. Maelstrom aims for a first close by March 2026 and full raise by September 2026.

MrBeast Files Trademark for Crypto and Finance App Covering Exchanges, Payments, and Lending

YouTube star MrBeast (James Donaldson) has filed a trademark for “MrBeast Financial,” intended for a crypto-focused app offering exchange services, payment processing, DEX trading, investment banking, insurance, lending, and financial education. Despite the scope, he has not yet registered with FinCEN, secured money transmitter licenses, or sought approvals from the SEC or CFTC, which would be required if the platform launches. The filing is part of a broader portfolio of 52 trademarks under his Beast Holdings company, many of which have turned into commercial products.