Informant: Some pension funds in the United States are providing financing support to cryptocurrency broker Hidden Road.
2023-08-23 11:06
Odaily News: According to informed sources, some pension funds in the United States are providing financing support to the cryptocurrency broker Hidden Road. Andrew Urquhart, a finance professor at the Henry Business School, said, "This is a very risky investment, and if my pension fund says that we will enter the cryptocurrency field, I would be very concerned." If the hedge funds borrowing from this brokerage suffer huge losses, both the brokerage and its investors may have to bear the cost of those losses. A person familiar with Hidden Road stated that the company sees itself more as a private equity investment firm rather than a bank's main broker, raising external funds for investment activities. (Financial Times) In previous news, global credit service provider Hidden Road Partners announced the completion of a $50 million Series A financing round, with Castle Island Ventures leading the investment and participation from Citadel Securities, FTX Ventures, Uncorrelated Ventures, Greycroft, XBTO Humla Ventures, Wintermute, SLN Capital, Profluent Trading, Coinbase Ventures, among others.
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