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The investment bank’s crypto division, Zodia Markets Ltd., is discussing acquiring part of Elwood Capital Management Ltd.
The billionaire hedge fund manager invested in crypto companies up for sale in January, with plans of reinvesting any proceeds into his firm, Brevan Howard Digital. Zodia’s crypto exchange launched in mid-2022 as the industry was entering a bear market and shuttered its services in early 2024, with CEO Usman Ahmad citing a lack of demand.
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