FalconX, one of many main crypto prime brokers, acquired a majority stake within the Monarq hedge fund. The acquisition goes by means of the dad or mum firm of the multistrategy crypto hedge fund Monarq Asset Administration.
FalconX has expanded its companies after buying a stake within the dad or mum firm of Monarq Asset Administration. The Monarq fund is a multi-strategy crypto investor, serving to FalconX increase into the asset administration enterprise.
The acquisition can be a brand new stage for Monarq, which went by means of two rounds of restructuring and rebranding. Monarq Asset Administration was previously often called MNNC Group, registered within the Cayman Islands. Earlier than that, the fund was often called Ledger Prime, a part of the FTX change’s wealth administration empire.
Ledger Prime was related to the actions of Alameda Analysis, the crypto buying and selling agency that was entangled with the FTX change. Later, Ledger Prime relaunched underneath the brand new identification of MNNC, earlier than as soon as once more rebranding as Monarq underneath the administration of Shiliang Tang.
FalconX goals to succeed in out to a wider circle of shoppers
Beforehand, FalconX has said its intentions to accumulate appropriate corporations, tapping its report revenues from the rising crypto market. Lately, FalconX additionally partnered with Commonplace Chartered to supply companies to institutional shoppers. In January, FalconX additionally acquired the spinoff change Arbelos Markets.
The phrases of the deal weren’t disclosed, as FalconX is a privately held firm. The acquisition goals to increase the prime dealer’s consumer base past hedge funds, buying and selling funds, and asset managers, in keeping with the top of income and enterprise at FalconX, Austin Reid.
Reid additionally talked about the brand new shoppers of FalconX might embody endowments, pensions, household workplaces, or anybody searching for asset administration options inside crypto. He added that the corporate would search extra acquisitions within the subsequent 12 months or two, going with the wave of consolidations within the crypto area.
The Monarq Asset Administration spun off as a brand new fund, completely impartial of its historical past with FTX and Alameda Analysis. In early 2024, the fund additionally raised as much as $100M for renewed investments. Outdated LedgerPrime wallets remained lively till two months in the past, with vestigial belongings from earlier buying and selling.
As of 2025, Monarq had a workforce of 16 workers, with crypto methods deployed to each centralized markets and DEX. The fund has a number of hundred million {dollars} in belongings underneath administration, primarily based on the founder’s estimates. Monarq applies quantitative, delta-neutral, and directional buying and selling methods.
The acquisition is among the remaining parts in repairing the legacy of defunct change FTX. The fund now operates on a brand new market, with wider adoption and better institutional involvement.
FalconX itself carries over $174M in its identified wallets. The dealer was instrumental in shifting a number of the belongings of FTX to exchanges through the chapter lawsuits. The dealer has additionally dealt with the belongings of Celsius Community.
FalconX itself has admitted to having as much as 18% of its belongings locked throughout the wallets of FTX. Regardless of the partial restoration, the dealer retained ample liquidity, along with elevating $150M at $8B valuation. The latest deal underscores the choice to overlook the FTX fallout and try renewed investments within the expanded crypto market.
