Cryptocurrency prime broker Hidden Road Partners is expected to complete the liquidation of its FTX.com holdings tonight, according to Bloomberg.
Hidden Road Partners, founded by Marc Asch in 2018, is a prime brokerage firm focused on digital assets and foreign exchange trading. The company allows banks or other institutions that cannot directly hold digital assets to make profits and losses in US dollars by using US dollars as collateral through a “three-way” mechanism established with custodians.
Hidden Road Partners is urging users currently on the virtual currency exchange FTX.com to liquidate their current positions and exchange all balances for fiat U.S. dollars due to the latest liquidity crisis on the FTX exchange.
The company claims to have decided to liquidate FTX.com’s holdings due to the “exchange’s default”. Earlier in August, digital asset and foreign exchange brokerage company Hidden Road Partners completed a…
