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

Cryptocurrency broker Hidden Road Partners is raising Series B equity financing, which will bring its valuation to around $1 billion, and this round of financing is expected to raise about $120 million. Founded by Marc Asch in 2018, this bulk broker has worked at hedge fund billionaire Steven Cohen's company SAC Capital and Point72 Asset Management. Hidden Road completed a $50 million financing round in 2022. Hidden Road provides primary brokerage services for a variety of markets, including foreign exchange, precious metals, and digital assets.