The encryption-friendly prime broker Hidden Road may be acquired.

According to Mars Finance, on April 4, informed sources revealed that the prime broker Hidden Road is negotiating an acquisition with a crypto-native company. The negotiations are still ongoing, but a final agreement has not yet been reached. The company focuses on encryption and traditional assets and raised approximately $50 million last year, with investors including Dragonfly Capital. FT Partners serves as its advisor. Earlier reports indicated that Hidden Road was considering a sale or financing, with a valuation potentially exceeding $1 billion. The company has not yet commented.