Crypto Power Plays: Robinhood Acquires Bitstamp, FalconX Grabs Monarq Stake

Looking ahead, Robinhood CEO Vladimir Tenev has signaled strong interest in real-world asset tokenization, calling it a potential “unlock” for democratizing access to traditionally illiquid assets like private equities. During a recent earnings call, Tenev suggested that tokenizing firms such as OpenAI or SpaceX could become a reality in the near future.

FalconX Targets Institutional Scale With Monarq Stake

In a separate strategic maneuver, FalconX, a leading crypto prime broker, has reportedly acquired a majority stake in the parent company of Monarq Asset Management. The firm, previously known as LedgerPrime and affiliated with the now-defunct FTX, is registered in the Cayman Islands.

The acquisition, reported by Bloomberg on June 2, is part of FalconX’s ongoing effort to grow its asset management capabilities and deepen relationships with institutional investors.

While terms of the deal were not disclosed, the acquisition follows a series of aggressive moves by FalconX. Earlier this year, it acquired derivatives-focused startup Arbelos Markets and partnered with Standard Chartered to enhance institutional crypto banking infrastructure.

FalconX, which claims access to 94% of global digital asset liquidity and has facilitated over $1.5 trillion in trading volume, views Monarq as a vehicle to scale its quantitative trading models and diversify its institutional client base.

The expansion comes despite regulatory pressure. In May 2024, FalconX reached a $1.8 million settlement with the U.S. Commodity Futures Trading Commission (CFTC) for allegedly offering unregistered services to U.S. customers. As part of the agreement, FalconX ceased offering services to U.S. residents.