FalconX acquires majority stake in Monarq's parent company to expand institutional client business

Odaily Planet Daily News Crypto broker FalconX has acquired a majority stake in the parent company of Monarq, an asset management company under the former FTX, in order to expand its institutional client base and expand asset management services. This year, FalconX also acquired derivatives startup Arbelos Markets and reached a cooperation with Standard Chartered Bank. The acquisition may help its quantitative strategy expansion and team expansion. The terms of the transaction were not disclosed. (Cointelegraph)