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FalconX expands with majority stake in Monarq

FalconX expands with majority stake in Monarq

GrafaGrafa2025/06/03 07:40
By:David Martin

Crypto prime broker FalconX has acquired a majority stake in Monarq Asset Management’s parent company, previously owned by the bankrupt exchange FTX (CRYPTO:FTT), according to a June 2 Bloomberg report.

Monarq Asset Management, registered in the Cayman Islands and formerly known as MNNC Group, was earlier part of the FTX ecosystem under the name LedgerPrime before the exchange’s collapse.

The acquisition aims to broaden FalconX’s institutional client base and expand its asset management services beyond hedge funds and asset managers.

FalconX, founded in 2018, has been actively expanding its operations in 2025.

Earlier this year, it acquired derivatives startup Arbelos Markets and formed a partnership with Standard Chartered to enhance institutional crypto banking services.

The firm views its stake in Monarq as a strategic move to scale quantitative models and grow its team, potentially increasing its reach in institutional crypto markets.

FalconX describes itself as a digital asset prime brokerage executing over $1.5 trillion in trading volume and accessing 94% of global digital asset liquidity.

In May 2024, FalconX settled with the US Commodity Futures Trading Commission (CFTC) for $1.8 million in penalties and disgorgement related to failing to register with the agency.

As part of the settlement, FalconX agreed to cease offering services to US residents.

In June 2022, FalconX raised $150 million in a Series D funding round at an $8 billion valuation.

The company also managed to survive the FTX collapse despite the exchange holding 18% of its unencumbered cash equivalents at the time.

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