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

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