Crypto Prime Broker FalconX Takes Majority Stake in Hedge Fund Monarq
Digital asset prime broker FalconX has taken a majority stake in the parent company of multistrategy crypto hedge fund Monarq Asset Management, as the firm seeks to expand asset management services.
Terms of the transaction weren't disclosed. The privately-held company views the investment as an opportunity to expand its institutional client base beyond hedge funds, proprietary trading firms and asset managers, according to Austin Reid, global head of revenue and business at FalconX, which is headquartered in San Mateo, California.
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