TechFlow News, February 26: According to CoinDesk, WebN Group—a blockchain and Web3 incubator backed by billionaire Alan Howard—has officially shut down. The incubator previously supported several digital asset projects, including tokenization specialist KAIO (formerly Libre), crypto staking firm Twinstake, blockchain infrastructure company TruFin, and zero-knowledge proof startup Geometry.
Sources indicated that WebN has “successfully completed its mission,” with some employees transitioning to work at Brevan Howard, the hedge fund founded by Howard. WebN had secured investment in 2023 from Laser Digital, Nomura’s crypto partnership.
Reports indicate that Brevan Howard’s digital assets fund incurred nearly a 30% loss last year, following gains of 52% and 43% in 2024 and 2023, respectively.
