According to PANews, Hidden Road Partners, a major broker specializing in cryptocurrency and foreign exchange, is reportedly raising funds in a B-round equity financing. This move is expected to bring the company's valuation to around $1 billion, with the current round of financing anticipated to raise approximately $120 million.
Hidden Road Partners was established in 2018 by Marc Asch, who previously worked at hedge fund billionaire Steven Cohen's companies, SAC Capital and Point72 Asset Management. In 2022, Hidden Road completed a financing round of $50 million. The firm provides primary brokerage services for various markets, including foreign exchange, precious metals, and digital assets.