PANews reported on June 2 that according to Bloomberg, digital asset broker FalconX has acquired a majority stake in the parent company of multi-strategy crypto hedge fund Monarq Asset Management, a move aimed at expanding its asset management services. Terms of the transaction were not disclosed. Austin Reed, head of global revenue and business at FalconX, a private company headquartered in San Mateo, California, said the investment provides the company with an opportunity to expand its institutional client base from hedge funds, proprietary trading firms and asset management institutions to a wider range of areas.