Huobi founder Li Lin's ambitious project to create a $1 billion Ethereum (ETH) reserve company has reportedly been halted. Citing sources, Wu Blockchain reported that the project, intended to build a substantial ETH reserve, has been put on hold and the capital commitments have been returned to investors. The reasons behind the failure remain unclear. Such a reserve could have been intended to stabilize ETH markets or support new decentralized finance (DeFi) initiatives. The cancellation represents a setback, raising questions about market confidence and the viability of large-scale crypto initiatives amidst current market conditions. Details remain sparse, and further information is awaited. ```