Media: Crypto broker Hidden Road’s valuation could reach $1 billion at the end of its funding round
The amount of the round itself, sources said, is $120 million
17.04.2024 - 15:30
86
2 min
0
What’s new? Hidden Road Partners, a broker backed by market maker Citadel Securities, is preparing to close a $120 million Series B funding round that will bring its value to $1 billion, Bloomberg reported, citing sources. Hidden Road, which offers fiat and cryptocurrency trading services, has not yet commented on the situation.
What else is known? Hidden Road was founded in 2018 by Mark Ash, who previously worked at SAC Capital and Point72 Asset Management of billionaire Steven Cohen. Hidden Road closed a $50 million funding round in 2022. The company provides brokerage services for markets across a variety of assets, including fiat and digital currencies, as well as precious metals.
Last year, Citadel Securities partnered with investment firm Fidelity and broker Charles Schwab to launch EDX Markets (EDXM), a non-custodial crypto exchange for institutional traders.
CoinGecko: Crypto market capitalization grew by 65% in the first quarter
Spot trading volume on leading exchanges grew by 95% over the same period
At the end of March, analyst Colin Wu reported that venture capital funding for crypto projects was up 53% for the month. The ten largest rounds in March saw companies collectively raise over $526 million.
Useful material?
Market
Analysts note that from 2024 to 2030, tokens worth $155 billion will be unlocked
May 17, 2024
Technologies
The new mechanism has already made it possible to calculate over tens of millions of fraudulent addresses
May 16, 2024
Incidents
The amount of damage amounted to $25 million in cryptocurrencies
May 16, 2024
Market
FTX customers will be compensated in cash, unlike Mt. Gox and Gemini customers who will receive cryptocurrencies
May 16, 2024
Technologies
It is available to crypto wallet users worldwide as an additional feature
May 15, 2024
Market
The ex-official known for his initiatives to explore the potential of blockchain in the financial system has joined the board of directors of a fintech company
May 14, 2024