Hidden Road, a main broker who focuses on crypto and traditional assets, has received an incoming takeover approach, according to two people knowing the issue.
Discussions on the takeover are underway with a birthplace of Crypto who wants to acquire Hidden Road, have declared people, but there is no certainty that a transaction will be concluded.
Hidden Road refused to comment.
The company has raised around $ 50 million in the past 12 months, investors, including the venture capital company of Crypto Dragonfly Capital, said one of the people.
One of the investors, an indigenous crypto company, has since made an approach to buy Hidden Road, added the person.
Dragonfly Capital did not respond to a request for comments in publication times.
The main brokers are an essential part of plumbing financial markets. They provide negotiation, financing and guard services to large institutions.
Hidden Road collected $ 50 million in a series of financing for series A in July 2022. The Tour was led by Castle Island Ventures, with the participation of Citadel Securities, FTX Ventures, unrelated, Graycroft, XBTO Humla Ventures, Wintermute, SLN Capital, profluent trading, Coinbase and Corner Capital.
The company would have weighed options, including a potential sale or a capital increase that could enhance the company more than a billion dollars, according to a Bloomberg report last month.
