Elwood Technologies Reportedly Exploring Sale of Trading Unit
CryptoNewsTerminal Staff28 May, 2024
Elwood Technologies Reportedly Exploring Sale of Trading Unit
Elwood Technologies, a UK-based institutional crypto platform, is reportedly exploring a sale of part of its business specifically its trading unit, according to CoinDesk. Sources familiar with the matter indicate that this move aligns with Elwood's strategy to prioritize its core offerings in portfolio and risk management software-as-a-service (SaaS). The decision comes amidst a broader restructuring of billionaire investor Alan Howard's crypto portfolio, who founded Elwood. The company's shift in focus suggests a trend towards consolidation within the crypto industry, as firms seek to streamline operations and optimize their service offerings.