FalconX has made other moves in 2025, acquiring derivatives startup Arbelos Markets and partnering with Standard Chartered. Crypto prime broker FalconX has reportedly acquired a majority stake in Monarq Asset Management’s parent company, previously owned by bankrupt exchange FTX. According to a June 2 report from Bloomberg, the move seeks to expand the firm’s institutional client base and broaden its asset management services. Monarq Asset Management, formerly known as MNNC Group, is a Cayman Islands-registered fund. Prior to operating as MNNC, the hedge fund was known as LedgerPrime and was part of the FTX empire before the exchange’s collapse. Terms of the deal between FalconX and Monarq’s parent company were not disclosed. Read more
The Ethereum Foundation has restructured its core development team and reduced headcount to focus on scaling and user experience. The Ethereum Foundation (EF) has restructured its internal development group, rebranding its core research team and laying off some staff in the process. According to a June 2 announcement, the EF’s former Protocol Research & Development (PR&D) team is now simply “Protocol,” which will focus on three strategic goals: scaling Ethereum’s base layer (L1), expanding blobspace for rollups, and improving user experience (UX). “This process of “shipping protocol” is messy, asking us to respond proactively to demands that are hard to articulate and even harder to fulfill,” the EF said. Read more