According to PANews, Bloomberg cited anonymous sources as saying that Hidden Road Partners, a major crypto-currency and foreign exchange broker, is raising a Series B equity financing round that is expected to bring its valuation to around $1 billion. This round of financing is expected to raise about $120 million.

Hidden Road was founded in 2018 by Marc Asch, who previously worked at hedge fund billionaire Steven Cohen’s firm SAC Capital and Point72 Asset Management. Hidden Road completed a $50 million funding round in 2022 and provides prime brokerage services for a variety of markets, including foreign exchange, precious metals, and digital assets.