FalconX acquires majority stake in crypto hedge fund Monarq’s parent company

Odaily News Digital asset broker FalconX has acquired a majority stake in the parent company of multi-strategy crypto hedge fund Monarq Asset Management, a move aimed at expanding its asset management services.
Terms of the deal were not disclosed. Austin Reed, head of global revenue and operations at FalconX, a private company based in San Mateo, California, said the investment provides the company with an opportunity to expand its institutional client base from hedge funds, proprietary trading firms and asset managers to a broader range of sectors. (Bloomberg)