Crypto: Wall Street Banking Giants Back $500,000,000 Crypto Tech Firm

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“Wall Street giants Barclays and Goldman Sachs announced they are investing in Elwood Technologies, a crypto infrastructure and market data platform”–Paul Ebeling

I a note to clients they said the crypto trading platform raised $70-M in the Series A funding round that was co-led by Goldman Sachs and early-stage venture fund Dawn Capital.

The Series A funding round puts the value of Elwood Technologies at approximately $500-M.

The global lobal head of digital assets at Goldman Sachs said, “As institutional demand for cryptocurrency rises, we have been actively broadening our market presence and capabilities to cater for client demand. Our investment in Elwood demonstrates our continued commitment to digital assets and we look forward to partnering to expand our capabilities.”

British billionaire Alan Howard will remain as the principal investor of Elwood Technologies, which was initially founded to manage his personal crypto portfolio. Mr. Howard is the co-founder of the European hedge fund, Brevan Howard Asset Management.

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Have a prosperous day, Keep the Faith!

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