FalconX, one of many main crypto prime brokers, acquired a majority stake within the Monarq hedge fund. The acquisition goes by means of the guardian firm of the multistrategy crypto hedge fund Monarq Asset Administration.
FalconX has expanded its companies after buying a stake within the guardian 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 will likely 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 below the brand new identification of MNNC, earlier than as soon as once more rebranding as Monarq below the administration of Shiliang Tang.
FalconX goals to achieve out to a wider circle of purchasers
Beforehand, FalconX has said its intentions to amass appropriate corporations, tapping its file revenues from the rising crypto market. Just lately, FalconX additionally partnered with Normal Chartered to supply companies to institutional purchasers. 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 response to the top of income and enterprise at FalconX, Austin Reid.
Reid additionally talked about the brand new purchasers of FalconX might embrace endowments, pensions, household places of work, or anybody in search of asset administration options inside crypto. He added that the corporate would search extra acquisitions within the subsequent yr or two, going with the wave of consolidations within the crypto area.
The Monarq Asset Administration spun off as a brand new fund, solely 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 Outdated LedgerPrime wallets remained energetic till two months in the past, with vestigial property from earlier buying and selling.
As of 2025, Monarq had a staff of 16 workers, with crypto methods deployed to each centralized markets and DEX. The fund has a number of hundred million {dollars} in property below administration, based mostly on the founder’s estimates. Monarq applies quantitative, delta-neutral, and directional buying and selling methods.
The acquisition is without doubt one of the last 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 transferring a number of the property of FTX to exchanges through the chapter lawsuits. The dealer has additionally dealt with the property of Celsius Community.
FalconX itself has admitted to having as much as 18% of its property locked inside the wallets of FTX. Regardless of the partial restoration, the dealer retained adequate liquidity, along with elevating $150M at $8B valuation. The current deal underscores the choice to overlook the FTX fallout and try renewed investments within the expanded crypto market.
