In a move that underscores the ongoing consolidation sweeping through digital asset markets, FalconX announced on June 2, 2025, its acquisition of a majority stake in Monarq—the Cayman Islands-registered hedge fund that has managed to distance itself from its rather colorful past as part of the FTX/Alameda ecosystem (a distinction that likely carries more weight in boardrooms these days than it once did).
FalconX’s strategic acquisition of Monarq signals the relentless consolidation reshaping institutional crypto asset management landscapes.
The acquisition, with undisclosed terms that presumably satisfied both parties’ appetites for strategic ambiguity, represents FalconX’s calculated expansion beyond its traditional brokerage services into the increasingly lucrative domain of institutional asset management.
Monarq, formerly known as MNNC Group and LedgerPrime, brings a sophisticated arsenal of quantitative, delta-neutral, and directional crypto strategies—precisely the kind of intellectual firepower that endowments, pension funds, and family offices demand when venturing into digital assets.
Led by CEO Shiliang Tang, a former volatility trader whose credentials span Bank of America Merrill Lynch and UBA, Monarq assembled a team of Wall Street veterans from LedgerPrime, Tower Research, and BlockTower.
Founded in 2017, the fund has quietly managed several hundred million in assets while developing proprietary quantitative models that apparently caught FalconX’s attention. The fund’s data-centric approach spans both centralized and decentralized markets, positioning it uniquely in the evolving digital asset landscape.
For FalconX, valued at $8 billion in 2022, this acquisition follows January’s purchase of Arbelos Markets and reflects CEO Raghu Yarlagadda‘s broader diversification strategy. Austin Reid, FalconX’s global head of revenue and business, emphasized the company’s focus on delivering institutional-grade solutions to sophisticated investors navigating the crypto space.
The company’s recent partnership with Standard Chartered for cross-border settlements further demonstrates its ambitions across Asia, the Middle East, and the United States—markets where institutional demand for sophisticated crypto exposure continues expanding despite regulatory uncertainties. This timing aligns with the broader industry shift toward tangible utility as cryptocurrency markets mature beyond pure speculation.
The strategic rationale appears sound: FalconX gains immediate access to institutional-grade asset management capabilities, while Monarq secures the capital and infrastructure necessary to scale operations.
Tang’s team can now focus on expanding portfolio managers and technologists rather than worrying about fundraising mechanics.
Given FalconX’s track record and the anticipated consolidation wave, industry observers expect additional acquisitions within the next two years.
Whether this particular combination generates the risk-adjusted returns that institutional investors demand remains to be seen, though the mathematical pedigree suggests cautious optimism may be warranted.
