Hidden Road’s Crypto Drama: A Takeover Tale of Greed and Glitches!

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What to know:

  • Hidden Road, the prime broker with a penchant for crypto and chaos, is reportedly in takeover talks with a crypto-native suitor. Quelle surprise! 🎭
  • FT Partners, the investment banking firm, is playing matchmaker in this financial farce. Will they earn their fee or just add to the confusion? 🤔

Ah, Hidden Road! A broker of both crypto and traditional assets, now finds itself the object of desire for a crypto-native company. Two sources, who clearly enjoy the thrill of gossip, revealed that talks are ongoing. But, as with all matters of the heart (and money), there’s no guarantee of a happy ending. 💔

Hidden Road, ever the coy participant, declined to comment. How très mystérieux! 🕵️‍♂️

In the last 12 months, the company has raised a modest $50 million, with Dragonfly Capital among its investors. But wait! One of these investors, a crypto-native firm, has now decided to play the role of the suitor. Will this be a love story or a tragedy? Only time will tell. 🎭

Dragonfly Capital, perhaps too busy counting their crypto coins, didn’t respond to requests for comment. Quelle horreur! 😱

Prime brokers, the unsung heroes of financial markets, provide trading, financing, and custody services to large institutions. Hidden Road, in its quest for glory, raised $50 million in a Series A funding round in July 2022. The round was led by Castle Island Ventures, with a star-studded cast of investors including Citadel Securities, FTX Ventures, and Coinbase Ventures. 🎬

Rumors abound that Hidden Road is weighing its options, including a potential sale or capital raise that could value the firm at over $1 billion. A Bloomberg report last month hinted at this possibility. Will they sell, or will they hold out for a better offer? The plot thickens! 🍿

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2025-04-03 21:25