Billionaire Alan Howard’s crypto incubator WebN closes down

CoinDesk

by Ian Allison

February 25, 2026

AI-Generated Deep Dive Summary

Billionaire Alan Howard’s blockchain and Web3 incubator, WebN Group, has announced its closure after successfully supporting several digital asset startups over the years. The incubator, backed by Howard and Japanese bank Nomura’s crypto arm Laser Digital, had invested in notable firms like KAIO (formerly Libre), Twinstake, TruFin, and Geometry. Despite the shutdown, sources close to WebN clarified that Howard remains committed to blockchain technology's potential in traditional finance markets. WebN's closure comes after a successful run nurturing innovative startups in the digital asset space. The incubator's alumni have gone on to join prominent firms like Brevan Howard, the hedge fund founded by Alan Howard. While WebN’s mission has been deemed accomplished, the broader crypto landscape continues to face challenges, as evidenced by Brevan Howard's recent performance. The hedge fund saw its digital asset fund decline nearly 30% last year, following prior gains of 52% and 43% in 2024 and 2023, respectively. The decision to close WebN does not signal a shift away from crypto for Alan Howard or Brevan Howard. The firm remains bullish on digital assets and continues to explore opportunities through its venture capital arm. Despite recent market volatility and challenges faced by other crypto-exposed entities, including Blockfills' CEO departure and trading platform suspensions, Howard's long-term vision for blockchain in traditional markets remains unchanged. This underscores the ongoing evolution of the crypto industry, where both innovation and caution coexist.

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Originally published on CoinDesk on 2/25/2026