Crypto-friendly prime broker Hidden Road, which raised $50 million in funding, may be acquired

According to people familiar with the matter, prime broker Hidden Road is in talks to acquire a crypto-native company, and the talks are still ongoing, but no final agreement has been reached. The company, which focuses on crypto and traditional assets, raised about $50 million last year, with investors including Dragonfly Capital. FT Partners is acting as an advisor to it. It has previously been reported that Hidden Road is considering a sale or financing at a valuation of more than $1 billion. The company has not yet commented.