Hidden Street, a main dealer that focuses on each crypto and conventional belongings, has obtained an inbound takeover method, in accordance with two individuals with data of the matter.
Takeover talks are ongoing with a crypto native firm that wishes to accumulate Hidden Street, the individuals stated, however there isn’t a certainty that any deal can be finished.
Hidden Street declined to remark.
The corporate has raised about $50 million within the final 12 months, from buyers together with crypto enterprise capital agency Dragonfly Capital, one of many individuals stated.
One of many buyers, a crypto native agency, has since made an method to purchase Hidden Street, the individual added.
Dragonfly Capital did not reply to a request for remark by publication time.
Prime brokers are a necessary a part of the plumbing of monetary markets. They supply buying and selling, financing and custody companies to massive establishments.
Hidden Street raised $50 million in a Collection A funding spherical in July 2022. The spherical was led by Citadel Island Ventures, with participation from Citadel Securities, FTX Ventures, Uncorrelated Ventures, Greycroft, XBTO Humla Ventures, Wintermute, SLN Capital, Profluent Buying and selling, Coinbase Ventures and Nook Capital.
The corporate was stated to be weighing choices together with a possible sale or capital increase that would worth the agency at greater than $1 billion, in accordance with a Bloomberg report final month.
