Bloomberg: Hidden Road Partners is raising a Series B equity financing at a valuation of $1 billion, currently expected to raise about $120 million

ChainCatcher news, according to Bloomberg, sources say that the wholesale brokerage firm Hidden Road Partners, focused on cryptocurrency and foreign exchange, is raising a Series B equity financing that will value it at around $1 billion, with the round expected to reach approximately $120 million.

It is reported that Hidden Road Partners was founded by Marc Asch in 2018, who previously worked at hedge fund billionaire Steven Cohen's firms SAC Capital and Point72 Asset Management.

According to the crypto data platform RootData, Hidden Road completed a $50 million financing in 2022, with participation from Citadel Securities, FTX Ventures, Coinbase Ventures, and others. Hidden Road provides prime brokerage services across various markets, including foreign exchange, precious metals, and digital assets.