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Howard-backed Elwood to sell part of business

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Elwood Technologies, a cryptocurrency-focused trade execution and risk management platform, is in talks to sell part of its business as backer Alan Howard, co-founder of hedge fund Brevan Howard, reorganises his portfolio of crypto investments, according to a report by CoinDesk.

The report cites four people with knowledge of the matter in confirming that the sale will see Elwood focus on its existing portfolio management and risk management services and less on the trading side.

London-based Elwood currently employs about 100 staff across operations in the UK, US, Jersey and Singapore, which comprise trade execution and portfolio management software, as well as risk management services including exposure tracking and collateral monitoring.

According to a regulatory filing, the company generated $11.5m in revenue in 2023 but reported a loss of $16.9m after paying operating expenses of $23.3m.

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