WebN Group Set to Shut Down
Recent reports indicate that WebN Group, a crypto incubator supported by billionaire Alan Howard, is planning to shut down. According to insiders, the organization has largely completed its mission, with some employees transitioning to Brevan Howard.
Review of Investment History
WebN Group previously invested in several digital asset infrastructure projects, including KAIO (formerly Libre), Twinstake, TruFin, and Geometry. In 2023, it also secured investment from Laser Digital, the crypto joint venture platform under Japan's Nomura.
Industry Impact
The closure of WebN Group marks a significant shift in the crypto startup incubation space. As market volatility increases, investors are becoming more cautious in their approach to digital assets.
- Backed KAIO, Twinstake, and other digital asset projects
- Received investment from Laser Digital
- Some employees transitioning to Brevan Howard