ChainCatcher reported that according to Bloomberg, people familiar with the matter revealed that Hidden Road, a brokerage firm supported by Citadel Securities, will stop providing its clients with the opportunity to trade on the cryptocurrency exchange Bybit. People familiar with the matter said that Hidden Road informed its clients of this decision a few weeks ago. The move was triggered by differences between the two companies over Bybit's customer knowledge and anti-money laundering requirements.
The specific nature of the disagreement between the two companies over KYC and AML procedures is unclear. The prime broker focuses on institutional cryptocurrency traders, providing services such as execution, clearing and financing. Hidden Road provides top-tier brokerage services across asset classes, including foreign exchange, precious metals and cryptocurrencies. The company was founded in 2018 by Marc Asch, who previously worked at hedge fund billionaire Steven Cohen's firm SAC Capital and Point72 Asset Management.
