Elwood Technologies, British hedge fund billionaire Alan Howard’s cryptocurrency trading platform, has attracted investment from Bothe Goldman Sachs and Barclays, according to report by The Financial Times.

Venture capital firm Dawn Capital and the venture divisions of Germany’s Commerzbank, and US billionaire Mike Novogratz’s crypto finance group Galaxy Digital also participated in the round which vales the company at $500 million.

News of the investment has emerged just as crypto assets have seen a sharp fall in value, with prices down by more then 50 per cent from the highs seen in 2021.

Read more: Private Equity Wire