Hidden Road plans to raise $120 million at $1 billion valuation

Golden Finance reported that cryptocurrency broker Hidden Road Partners is raising Series B equity financing, which will bring its valuation to about US$1 billion. This round of financing is currently expected to raise approximately US$120 million. The prime brokerage firm was founded in 2018 by Marc Asch, who previously worked at hedge fund billionaire Steven Cohen's companies SAC Capital and Point72 Asset Management. Hidden Road closed $50 million in financing in 2022. Hidden Road provides prime brokerage services for a variety of markets, including foreign exchange, precious metals and digital assets.