Digital asset prime brokerage FalconX has cut about 10% of its global workforce, according to Odaily. Before the layoffs, the company had roughly 350 employees across the United States, the United Kingdom, Singapore, and Hong Kong.
FalconX is also revising its Singapore strategy. The firm is shifting its focus there toward crypto derivatives trading and plans to withdraw its local license application that had been submitted to the Monetary Authority of Singapore.
At the same time, the company intends to keep its business footprint in Asia while expanding in Europe. The update links a workforce reduction with a broader regional and product strategy adjustment, covering staffing, licensing, and market focus.
Digital asset prime broker FalconX has cut about 10% of its global workforce, according to Odaily. Before the layoffs, FalconX had about 350 employees across the United States, the United Kingdom, Singapore, and Hong Kong.
The company is adjusting its Singapore strategy, with a focus on crypto derivatives trading, and plans to withdraw its local license application filed with the Monetary Authority of Singapore.
FalconX said it will maintain its business presence in Asia while expanding in Europe.
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