FalconX has successfully acquired a majority stake in Monarq Asset Management, marking a significant step in expanding its crypto wealth management services. The specific financial terms of this undisclosed deal remain private, as FalconX is a privately held firm.
Monarq Asset Management, previously known as MNNC Group and Ledger Prime, has undergone multiple rebranding efforts. The fund was initially linked to Alameda Research and FTX but is now managing investments independently after raising up to $100 million.
FalconX intends to tap into a broader client base, including endowments and pensions, showcasing its commitment to growth in the crypto space. The firm is also pursuing additional acquisitions to strengthen its position in the evolving market.
Leave a Reply