Elwood, a UK Crypto Trading platform, is Sponsored by Goldman Sachs and Barclays

Established by billionaire British hedge fund manager Alan Howard, the institutional crypto trading platform Elwood Technologies has raised $70 million in a Series A fundraising round led by Goldman Sachs and Barclays. The Financial Times reported on May 15 that crypto-friendly German bank Commerzbank, crypto investment management Galaxy Digital, and Dawn Capital had joined the round. According to the article, the company was valued at roughly $500 million during the fundraising round. Goldman Sachs and Barclays invest in UK crypto trading platform Elwood https://t.co/9DmeAgJb5h — Gaming Galah (@GalahGaming) May 16, 2022 Despite the recent decline in cryptocurrency markets, Elwood believes traditional financial institutions such as hedge funds and banks will continue to be interested in investing in cryptocurrencies. Elwood’s investment round was already set in motion before the recent decrease in pricing, which has seen the whole crypto market valuation drop by about 15% since May 9, according to CoinMarketCap. Elwood Technologies CEO James Stickland described the fundraising as “another evidence of crypto’s endurance,” dismissing recent price declines: “We’re getting investments from financial institutions that aren’t expecting to get massive returns in 15 minutes. They’re investing in the infrastructure; I think it’s a reassurance message.” Elwood Technologies offers institutional investors a crypto portfolio management sol...