Crypto broker FalconX acquires majority stake in Monarq — Report — TradingView News
Crypto prime broker FalconX has reportedly acquired a majority stake in Monarq Asset Management’s parent company, previously owned by bankrupt exchange FTX.
According to a June 2 report from Bloomberg, the move seeks to expand the firm’s institutional client base and broaden its asset management services.
Monarq Asset Management, formerly known as MNNC Group, is a Cayman Islands-registered fund. Prior to operating as MNNC, the hedge fund was known as LedgerPrime and was part of the FTX empire before the exchange’s collapse. Terms of the deal between FalconX and Monarq’s parent company were not disclosed.
Founded in 2018, FalconX has moved to expand its footprint in recent months. In January, the prime broker acquired derivatives…
