According to Bloomberg, FalconX is in talks to acquire Arbelos Markets, a derivatives startup founded in 2023 by two veterans of the cryptocurrency industry. The deal will be paid in a combination of cash and FalconX stock and is expected to be announced soon. Arbelos completed a $28 million funding round led by Dragonfly Capital in May 2024, with investors including FalconX, Circle Ventures, Deribit, and Paxos. FalconX CEO Raghu Yarlagadda previously stated that the company plans to actively pursue mergers and acquisitions to drive industry consolidation. This acquisition comes amid expectations of increased merger and acquisition activity in digital assets following Trump's election as president.