Hidden Road, a first -class broker that focuses on both crypto and traditional assets, has received an in -depth method of acquisition, according to two people with knowledge of the case.

Takeover conversations are ongoing with a crypto inborn company that wants to acquire Hidden Road, the people said, but there is no assurance that any agreement will be made.

Hidden Road refused to comment.

The company has collected about $ 50 million in the last 12 months from investors, including crypto venture capital company Dragonfly Capital, one of the people said.

One of the investors, a Crypto -Inborn company, has since made an approach to buying Hidden Road, the person added.

Dragonfly Capital did not respond to a request for comment after publication time.

Prime brokers are an essential part of the plumbing markets. They provide trade, financing and custody to large institutions.

Hidden Road raised $ 50 million in a Serie A Financing Round in July 2022. The round was led by Castle Island Ventures, with the participation of Citadel Securities, FTX Ventures, Uncorrified Ventures, Greycroft, XBTO Humla Ventures, WinterMute, SLN Capital, Profluent Trading, Cinbase Venture and Coinbase Venture and Corner Capital.

The company is said to weigh opportunities, including a potential sale or capital increase that could appreciate the company for more than $ 1 billion, according to a Bloomberg report last month.