Billionaire Alan Howard’s crypto incubator WebN closes down

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Billionaire Alan Howard’s crypto incubator WebN closes down WebN backed innovative digital asset firms like KAIO, Twinstake, TruFin and Geometry. By Ian Allison | Edited by Sheldon Reback Feb 25, 2026, 4:37 p.m. Make us preferred on Google Gautam Sharma, CEO & CIO, Brevan Howard Digital (Consensus modified by CoinDesk) What to know : WebN received an investment from Japanese bank Nomura’s crypto partnership, Laser Digital, back in 2023. Hedge fund Brevan Howard remains bullish on crypto, according to a person close to the firm. WebN Group , the blockchain and Web3 incubator backed by billionaire Alan Howard, is closing its doors after seeding a clutch of digital infrastructure startups over the past several years, according to a person familiar with the matter. Most recently, the venture studio backed tokenization specialist Libre (now called KAIO), crypto staking shop Twinstake, blockchain infrastructure firm TruFin and zero-knowledge proofs startup Geometry. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . In addition to Howard, WebN also received an undisclosed investment from Japanese bank Nomura’s crypto partnership, Laser Digital, back in 2023. The incubator was described as having "successfully completed its mission” the person said. Some of the staff who worked at WebN moved across to work at Brevan Howard, the hedge fund founded by Howard, they said. The decision to close down the WebN incubator has no bearing on Howard's digital asset aspirations, said the person, who is close to the situation at WebN. “Those who know Alan, know that he has long been convinced that blockchain technology would be used in traditional markets,” the person said. The last 12 months have been a challenging time for crypto-exposed firms. Brevan Howard’s digital asset fund lost almost 30% last year, according to a report in the Financial Times. This follows gains of 52% in 2024 and 43% the year before. Like many other hedge funds, Brevan Howard has trimmed its bitcoin BTC $ 67,987.43 ETF positions, cutting holdings of BlackRock’s iShares Bitcoin Trust by some 85%, according to data from Bloomberg and CF Benchmarks. 2025 also saw the departure of BH Digital CEO Gautam Sharma, who had been overseeing crypto investing at the firm for a few years. Brevan Howard also decided to spin out Nova, a hedge fund run by former Dragonfly investor Kevin Hu, who joined the firm with his own money pool in 2023 as part of an acquisition. “Brevan Howard isn’t scared off by temporary volatility, remains bullish on digital assets and has a huge VC business focused on the broad opportunity set,” said the source. WebN Group did not respond to requests for comment. Brevan Howard declined to comment. Laser Digital Brevan Howard CoinDesk Wealth Incubators More For You Bitcoin treasury firm GD Culture set to sell BTC holdings to fund share buybacks By Francisco Rodrigues | Edited by Stephen Alpher 1 hour ago The company's stock has lost about two-thirds of its value since peaking last year, nearly in step with bitcoin's record price above $126,000. What to know : GD Culture Group received board approval to sell part of its bitcoin reserve to fund a stock repurchase program. The company holds 7,500 bitcoins currently worth about $497 million, and is currently sitting on an unrealized loss of $344 million. Shares are higher on Wednesday, but have lost about two-thirds of their value alongside the sharp decline in the price of bitcoin. Read full story Latest Crypto News Bitcoin climbs to $67,500, Circle leads crypto stocks higher, as bounce strengthens 47 minutes ago Bitcoin treasury firm GD Culture set to sell BTC holdings to fund share buybacks 1 hour ago XRP jumps 6% as exchange data points to institutional accumulation 1 hour ago Endowments eye crypto allocations amid tougher return outlook for traditional investments 1 hour ago CoinDesk 20 performance update: Polkadot (DOT) surges 17.2% as all assets rise 2 hours ago The chief of the SEC is headlining an event sponsored by a crypto firm at war with it 2 hours ago Top Stories Circle Q4 earnings beat estimates as USDC issuance grows, shares surge 4 hours ago Vitalik Buterin sold 17,000 ETH this month as ether fell 37% 9 hours ago U.S. Senator opens probe on Binance over alleged $1.7 billion flow to Iranian entities 5 hours ago One of the longest mining capitulations nears end, signaling potential BTC price bottom 5 hours ago Crypto firm with U.S. bank charter holds bitcoin holder Strategy's preferred stock 10 hours ago Leading stablecoin Tether shrinks again as market cap looks set for second straight monthly drop 8 hours ago In this article BTC BTC $ 67,987.43 ◢ 5.75 %