Crypto Prime Broker Falconx has reportedly obtained a predominantly stake at the Monarq Asset Management parent company, which previously owned Bankrupt Exchange FTX.
According to In a June 2 report from Bloomberg, the move aims to expand the base of the institutional client of the company and expand asset management services.
The Monarq Asset Management, formerly known as the MNNC Group, is a fund registered with the Cayman Islands. Prior to operation as MNNC, the fence fund is known As Ledgerprime and became part of the FTX empire before the collapse of the exchange. The terms of dealing between Falconx and Monarq’s parent company are not disclosed.
https://www.youtube.com/watch?v=8subsakbpi
Established in 2018, Falconx has moved to expand its footprints in recent months. In January, the chief broker Got out derivatives Startup Arbelos Market. In May, the company announced a Collaboration with Standard Chartered In the scale institutional crypto banking.
Falconx reportedly viewed its stake in Monarq as a way to expand the base of the institutional client beyond fence funds, companies, and asset managers. The benefits can include scaling volume models and the company team is growing.
Related: Crypto volatility can spike if the US election is ‘too close to call’ – Falconx
Falconx and the cftc
Falconx Says It is the world’s largest digital asset prime broker, which implements more than $ 1.5 trillion value of trade with access to 94% of global digital asset liquidity. In May 2024, it Organized with the US Commodity Futures Trading Commission (CFTC) for $ 1.8 million in penalties and disgorgements for allegedly failing to register with the agency.
As part of the negotiation, Falconx agreed to stop offering services to US residents.
In June 2022, the broker Raised $ 150 million to a $ 8 billion appreciation As part of the D. series of D. Eventually, it will survive the FTX collapse. According to the broker, the exchange held 18% of non -equivalent cash equivalent.
Magazine: The $ 2,500 Doco about the fall of the FTX on Amazon Prime … With help from Mother
