Crypto prime broker FalconX has acquired a majority stake in Monarq Asset Management’s parent company, previously owned by bankrupt exchange FTX. The move aims to grow FalconX's institutional client base and asset management services. Monarq, formerly known as MNNC Group, is a Cayman Islands-registered fund that was part of the FTX empire. The terms of the deal were not disclosed. FalconX, founded in 2018, has been expanding its presence by acquiring other companies like Arbelos Markets and partnering with Standard Chartered. The acquisition of Monarq is seen as a way to reach more institutional clients and enhance quantitative models. FalconX settled with the CFTC in 2024 and raised $150 million in 2022. Despite the FTX collapse, FalconX managed to survive and continue its operations. Read more AI-generated news on: https://app.chaingpt.org/news