FalconX, a top-tier crypto prime brokerage, has made another significant move by acquiring a majority stake in Monarq Asset Management through a deal involving Monarq’s parent company. The terms of the transaction remain confidential.
This acquisition marks FalconX’s latest step in broadening its service offerings, now pushing deeper into the crypto asset management space. Monarq, a multi-strategy crypto investment fund, brings a wealth of experience and institutional-grade trading strategies to FalconX’s growing ecosystem.
Monarq’s Transformation: From Ledger Prime to Independent Asset Manager
Monarq’s journey has included multiple rebrands and restructurings. The fund, originally known as Ledger Prime, was once part of the broader FTX and Alameda Research network. Following the collapse of FTX, Ledger Prime transitioned to MNNC Group and ultimately emerged as Monarq Asset Management under the leadership of Shiliang Tang.
Today, Monarq operates as a fully independent entity, having distanced itself from its past affiliations. In early 2024, the fund raised up to $100 million to reenter the market with fresh capital and a renewed strategy. Currently, Monarq manages several hundred million dollars and employs a 16-member team executing a mix of delta-neutral, quant-based, and directional trading strategies across both centralized and decentralized platforms.
FalconX Eyes Broader Client Base
This acquisition aligns with FalconX’s ongoing expansion strategy. Recently, the company teamed up with Standard Chartered to roll out services for institutional investors and also took over Arbelos Markets, a derivatives trading platform, earlier this year.
FalconX’s Head of Revenue, Austin Reid, emphasized the firm’s goal of tapping into a broader segment of institutional clients, including family offices, pension funds, endowments, and other long-term investors seeking crypto asset management solutions.
Despite challenges related to FTX—where FalconX reportedly had 18% of its assets locked—the firm has remained resilient. It holds over $174 million in known wallets and has previously assisted in repositioning assets tied to both FTX and Celsius Network during bankruptcy proceedings. The company also raised $150 million at an $8 billion valuation, signaling investor confidence.
Cleaning Up FTX’s Legacy
The Monarq deal represents another step in the broader effort to move beyond the shadow of FTX. While legacy wallets from Ledger Prime were still active until early 2025, Monarq now stands as a fully restructured entity, focused on institutional-grade crypto investment.
FalconX’s latest move reflects the ongoing consolidation in the digital asset space. With strong liquidity and a clear strategy, the firm is positioning itself as a key player in the next phase of crypto’s evolution.
