Hidden Street, a chief dealer that focuses on each crypto and conventional belongings, has acquired an inbound takeover strategy, in line with two folks with data of the matter.
Takeover talks are ongoing with a crypto native firm that desires to amass Hidden Street, the folks stated, however there isn’t any certainty that any deal can be carried out.
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 folks stated.
One of many buyers, a crypto native agency, has since made an strategy to purchase Hidden Street, the particular person added.
Dragonfly Capital did not reply to a request for remark by publication time.
Prime brokers are a vital a part of the plumbing of economic 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 Fortress 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 might worth the agency at greater than $1 billion, in line with a Bloomberg report final month.